Estate Planning Attorney | It’s not uncommon for many older couples to be married later in life after a first marriage didn’t succeed. However, many people do not realize that no matter how old you are, marriage is a major legal step that can have consequences on your will. It’s important to contact an estate planning attorney who can help explain step-by-step how a marriage affects an inheritance.
Regardless of whether you have a will, a spouse can claim their elective share under state laws. Florida is unique in that you cannot totally disinherit your spouse from your will, and they will likely receive up to 30 percent of all assets after paying taxes, debts and expenses. An estate planning attorney will tell you that after remarriage, if you neglect to redo your will, your spouse is still considered pretermitted and can claim part of your estate.
Once you are remarried, it’s important to reevaluate your will and update it accordingly. If your children from a first marriage were previously the main beneficiary, you will need to modify the will to reflect your new nuptials. Additionally, in Florida, if you don’t have a will in place, your spouse will be protected. They still will receive your entire estate, assuming you don’t have children together.
There are a few ways to protect your child’s inheritance if you are remarried. One way to do this is to give it to them directly by giving it to them in a last will and testament. This can also be done by making the child a beneficiary for assets that don’t fall under the will, such as a 401K or IRA’s. A trust is also a potential way to ensure your child is receiving the assets you’ve designated for them.
Contact The Law Office of Michelangelo Mortellaro to go over your will with a qualified estate planning attorney and ensure it meets your current needs before or after your marriage.
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