Second Marriages, Kids from a Prior Marriage and Unmarried Couples
Couples nowadays are more diverse than ever. Some of these couples are remarried. Some have kids from a prior marriage, and some have no kids. Some choose never to marry.
The usual common element in these relationships is the conflict that exists in the relationship. Typically one of them has a conflict between caring about their current partner (or spouse), along with any children they share, and caring about a child or children from a previous relationship (or marriage).
In planning their estates, the common element is that other than caring for their current partner, each partner has a different distribution plan (i.e., after the surviving partner passes, each partner want his/her remaining assets to go to different individuals and or charities.)
For example, the couple without kids who each has his/her own retirement account
The usual common element in these relationships is the conflict that exists in the relationship. Typically one of them has a conflict between caring about their current partner (or spouse), along with any children they share, and caring about a child or children from a previous relationship (or marriage).
In planning their estates, the common element is that other than caring for their current partner, each partner has a different distribution plan (i.e., after the surviving partner passes, each partner want his/her remaining assets to go to different individuals and or charities.)
For example, the couple without kids who each has his/her own retirement account
- may want those funds to be available to care for his/her surviving partner if s/he needs the funds
- but once the partner spouse dies, they each want to make sure that any remaining funds in their respective accounts are distributed to their side of the family.