Couples in second (or more) marriages, especially those with children from previous marriages, should review their retirement plans. Certain qualified retirement plans are required to be paid as joint and survivor benefits unless the spouse has properly waived the right to receive survivor benefits. A waiver of this right prior to marriage (e.g., in a prenuptial agreement) may not be effective, since the parties are not “husband” or “wife” when they sign a prenuptial agreement. Thus, a postnuptial agreement may also be needed.
- Estate Planning
- Guardianship & Incapacity
- Livings Wills & Healthcare Surrogates
- Long-Term Care Planning & Asset Protection
- Medicaid Planning & Veterans Benefits
- Power of Attorney & Living Wills
- Probate & Trust Administration
- Social Security
- Supplemental Needs Trusts
- Wills & Trusts
Who Needs an Estate Plan?
When you hear the term “estate planning,” your mind might conjure images of the elderly preparing to pass a life’s worth of assets and heirlooms to the next generation, or a wealthy couple setting up trust funds for their children and trying every trick in the book to minimize their tax bill. You might even […]read more >
Beneficiary Designations: The Other Half of Your Estate Plan
In a recent post, we explored when it might be a good idea to review your estate plan. A large factor controlling where your assets go after your death—and one which is, unfortunately, often overlooked—is whether your assets have a designated beneficiary. Beneficiary designations are an oft-forgotten pillar of estate planning that, in many cases, […]read more >
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