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Creating an estate plan for a second marriage

Marriage is such a fun time, even if it is your second or subsequent marriage. The planning can still be stressful, especially if you are getting married a second time. You likely put together an estate plan the first time around. You will want to do the same thing for the second marriage. It is just as important.

Before you put the new estate plan into writing, be sure to speak with your future spouse about the plan. Both of you will want to be on the same page regarding long-term goals, financial issues and guardianship issues. Guardianship issues should cover children from a prior relationship and possible children from the second marriage.

It wouldn't hurt to look over the estate plan from your previous marriage. Even though you are marrying someone else, reviewing the previous plan will help to create a new one. You will want to find out if any of the items from the first estate plan will affect how you construct the new estate plan.

You will want to paint a very thorough picture when creating the estate plan for your second marriage. Let your future spouse know what your goals are so you can make the tough decisions as a couple.

As you begin to plan your estate for a second marriage be sure to consider the important documents such as wills and trusts. Be sure to review the tax consequences of getting married a second time and all those that come into play with your estate plan.

Are you planning a second marriage in Fort Lauderdale? Speaking with an experienced divorce attorney prior to saying your vows can make the entire process much easier and less stressful.

Source: Fidelity, "The second time around," accessed Sep. 08, 2017

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