07/08/2026
If you've remarried after having kids, you should take a look at your will and estate documents. And this is especially true if you did estate planning during that marriage and that marriage has ended. Some common issues I've seen:
1) the remarried couple each want their assets to go to their spouse if they die first, then their kids if the spouse has passed, so they both have their will say "to my spouse, and if my spouse predeceases me, to my kids." The problem here is that the survivor's kids wind up with everything, which is almost certainly not the intention. When spouse A passes, it all goes to spouse B, but spouse B's will doesn't mention A's kids, and they are effectively cut out. This can also result accidentally with assets that don't pass through the will. For example, A's will says half to my spouse and half to my kids, but they jointly own their home, so that whole asset passes to the spouse outside of probate and then the spouse's kids get it on the spouse's death. The same could happen with life insurance or financial assets that list the spouse as the primary beneficiary.
2) "We thought about that, so we both included the other person's children in our will." So both A and B say "to my spouse, then after my spouse, half to A's kids and half to B's kids." This can work for as long as everyone is on the same page. But if A dies first and B lives another 20 years, maybe he or she has a change of heart or remarries again. Now A's kids are cut out again. Or a situation I have seen happen is that A and B get divorced but don't get around to updating their documents. The divorce automatically revokes the provision for the ex-spouse in the will, but it doesn't do that for the spouse's kids. So now A may have no further relationship with B's kids and have all of their assets separated, but B's kids still stand to receive half of A's stuff on death.
3) "That's all well and good, but our kids are good people and will do the right thing. They know what we meant, and if B's kids get everything, they'll share with A's or if it's after the divorce, they'll give their share back." Well, they might intend to, which is certainly not guaranteed, but even if they do, there are complications. If they give up half of the assets without a legal obligation to do so, that's a gift and, depending on the circumstances, can result in tax implications for their estates. Also, in another situation I've seen, perhaps one of B's kids is in the middle of a divorce at the time or has some creditors they are dealing with. Now it's not really their call if they can just give up a chunk of assets they received.
In short, stuff can get messy, but it doesn't need to be that complicated if the appropriate planning is done on the front end and revisited from time-to-time. If this is your situation, please call Matt at 507-281-5711 or email me at [email protected] to discuss. If it sounds like someone you know, please share it with them.
