Estate planning is a very critical process that involves a delicate touch. Fresh Legal Perceptive in Tampa has a team of lawyers that know this well. They understand how important it is to have that trusted advisor role when it comes to estate planning. That’s also why our team of lawyers in Tampa can help you with your estate planning when it comes to second marriages. Second marriages and blended families are common occurrences today. So, your estate planning should reflect that. One method to dealing with second marriages in your estate planning is to name your trusted lawyer in Tampa as a co-trustee.
Your lawyer in Tampa may suggest that they become a co-trustee because they are looking out for you best interest. When it comes to second marriages, lawyers may recommend that they become co-trustee upon the death of the first spouse. When both spouses are alive, everything should run smoothly as they run their trusts. But, if one of the spouses dies, then there is little in the way of preventing the surviving spouse to raid the trust for their own children. This is probably against the wishes of the decedent, who set up the trust in the first place. Most cases won’t probably come to this, but life is strange and many things can happen. Spouses could become senile or purposely spiteful. Also, the children of the first spouse might not be too keen on having their step-parent in charge of their assets.
Some might fall into the trap of selecting one of the deceased spouse’s children to be the co-trustee. Think about the problems that problems that can erupt with that. Family attitudes can quickly change especially if the surviving spouse remarries or if they aren’t too keen on using their assets to take care of the surviving spouse.
Don’t leave it up to chance, have you trusted lawyer act as a co-trustee to pacify all sides. When your lawyer is a co-trustee, they will ensure that all surviving members are taken care of and that your assets benefit your heirs, as you wished. It also gives everyone peace of mind since they know that you selected a lawyer to take responsibility of the trust.
Check out our blog for more tips and info. Contact Fresh Legal Perspective today by calling (813) 448-1042 and ask about meeting one of our lawyers!