Protect Your Child’s Inheritance in a Second Marriage

September 24, 2025

Having a revocable trust may or may not protect assets for biological children on the death of their parent if the parent has remarried. This is why a recent article from the New Hampshire Union Leader, “Know the Law: Ensuring Assets go where you want in your revocable trust,” advises readers to speak with an experienced estate planning attorney about how to protect your child’s inheritance in a second marriage.

Surviving spouses in many states are permitted to claim an elective share of their deceased spouse’s estate to avoid being disinherited or being inadequately provided for when the spouse dies. If the decedent has children, the surviving spouse is entitled in some states to one-third of the probate estate. In some states, revocable trust assets are not automatically included as part of the decedent’s probate estate.

If there are assets in a revocable trust for children, they may be protected if the surviving spouse waives testate distribution and decides they’d rather claim the statutory elective share. Under certain circumstances, the surviving spouse could ask the court to set aside transfers of assets made into the revocable trust. If the court determines the transfers were invalid, then the revocable trust will become part of the probate estate and part of the elective share calculation.

In some states, the scope of the statutory elective share automatically includes assets in revocable trusts. Suppose someone moves from a state where this is not the case to a home in a state where revocable trust assets are considered part of the probate estate for elective share purposes and the estate is probated in the new state. In that case, that portion of the revocable trust assets will be available to the surviving spouse.

If the revocable trust isn’t fully funded and the assets intended to go into the trust remain in the spouse’s name, such as bank accounts and real estate, those assets will also be part of the probate estate.

Depending upon the plan rules and state laws, surviving spouses may also automatically be the beneficiary of any qualified retirement accounts, like 401(k)s or 403(b)s. Unless the spouse waives their right to the survivor benefits, they are, in most cases, the only person who will receive the pension assets.

Concerns about not disinheriting children from a prior marriage are often addressed through estate planning. However, a pre-nuptial agreement could also define what each spouse would be entitled to in the event of a divorce or when each spouse dies.

A consultation with an estate planning attorney in your state should take place to protect your child’s inheritance in a second marriage. It’s best to address the issues before walking down the aisle to prevent any misunderstandings in the future and start a new marriage with a clean slate. If you would like to learn more about remarriage protection, please visit our previous posts.

Reference: New Hampshire Union Leader (Aug. 18, 2025) “Know the Law: Ensuring Assets go where you want in your revocable trust”

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Travelers Need These Estate Planning Documents

September 16, 2025

Let’s face it – emergencies can happen anywhere at any time. Whether you fly frequently for business or occasionally for pleasure, before your next flight takes off, you should have your estate planning and healthcare documents completed. A recent article from Fast Company, “Healthcare docs are the unsung hero of travel season: An estate planning expert and seasoned traveler weighs in,” explains what to do and why. Travelers need these estate planning documents before they travel.

When most people think about their estate plans, they typically consider a last will and testament, funeral arrangements, or trusts. However, healthcare documents are just as critical, even for younger adults. This group of documents includes a Medical Power of Attorney, HIPAA Authorization, Living Will (also referred to as an Advance Healthcare Directive) and any state-specific healthcare documents, such as an MOLST (Medical Orders for Life-Sustaining Treatment) or a DNR (Do Not Resuscitate) order.

These documents serve as a playbook for your care, to be used by loved ones in the event of an unexpected occurrence. You don’t need to be on an airplane to suffer a sudden health event or accident. However, there’s nothing like a turbulent flight to make people wonder if they’ve completed their estate planning.

Everyone has heard the stories from friends and family about someone on a hiking trip who suffers an injury and needs to be airlifted, a college student who becomes seriously ill and has not named a legal guardian. If the right documents are in place, these documents will allow a loved one to act on your behalf, quickly and decisively.

Here’s what you need to do:

Consult with an estate planning attorney and get the process of creating an estate plan, including healthcare documents, started.
Name a healthcare proxy who can speak on your behalf if you’re unconscious or not able to communicate your wishes. Everyone over 18 should have this document.
Protect your documents, whether they are digital or paper. Ideally, you have both. Digital copies of your estate planning and health documents should be stored in a secure location, allowing you or your representatives to access and share them with treating doctors or health insurance companies.
Talk with your travelling companions and your family members. Let them know where your documents are stored and what your wishes are, in case of an emergency.

Travelers need these estate planning documents before they travel. You’d never travel without a passport. Your estate plan, including healthcare documents, deserves the same consideration. You plan your trips well in advance, your planning should include making sure you and your family are prepared for any emergency. If you would like to learn more about essential health and guardianship documents, please visit our previous posts.

Reference: Fast Company (Aug. 19, 2025) “Healthcare docs are the unsung hero of travel season: An estate planning expert and seasoned traveler weighs in”

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Health Care Proxy and Power of Attorney are Essential Tools in your Estate Plan

September 4, 2025

While you may think of a last will and testament when the phrase “estate planning” is used, there are several other documents you need. A health care proxy and a durable power of attorney are essential tools in your estate plan. A recent article in Kiplinger, “I’m an Estate Planning Attorney: These Are the Two Legal Documents Everyone Should Have,” explains what every adult needs to protect themselves and help loved ones during a time of crisis.

An estate plan does far more than simply distribute assets when you’ve died. It also protects your wishes while you’re living, as well as in case of incapacity. Two documents are required: the healthcare proxy and the durable power of attorney.

A health care proxy, sometimes referred to as a Health Care Power of Attorney, appoints someone you trust to receive information about your medical care and make decisions if you are too sick or injured to communicate your wishes. If you recover and regain capacity, you resume the ability to oversee your own health care, and the health care agent can no longer make medical decisions or have access to your medical care.

No one expects to be incapacitated. However, it’s best to be prepared. If you’re scheduled for surgery and are sedated, for instance, you’ll want another person to be able to make decisions for you in case something goes wrong. If you experience a longer medical event, such as being in a coma, your family will be able to make decisions on your behalf.

If there is no Power of Healthcare Attorney in place, your spouse or family members will need to petition the court to name a guardian to be able to make decisions for you. There have been many court cases where a surviving spouse would like to take their loved one off life support, but their parents don’t want that to happen. This is a terrible situation for everyone involved and can be avoided with the right estate planning.

A healthcare proxy may include provisions for a Living Will, which would specify the types of medicine or treatments you would want or not want if you were in a terminal state. For example, you may not want to be kept alive through artificial nutrition or a heart and lung machine if you are in a vegetative state. The living will is your way of communicating your wishes to your family clearly and coherently.

Who you name as your healthcare agent is entirely up to you. A younger person may name a parent, spouse, or close friend as their guardian. Couples often name their spouse or partner, while elderly people are more likely to name an adult child.

If there is no health care proxy named, even a married spouse doesn’t have the legal right to make decisions for you. Once a child reaches the age of legal majority, they are considered an adult, and their parents are no longer the default guardians. When children go to college, they should have a health care proxy in place.

The second critical document is the Power of Attorney. This names a person to make financial and legal decisions on your behalf. Without one, the family will need to go to court to access your accounts, pay bills and maintain the business side of your life.

Even if you don’t care what happens to your possessions after you die, having a health care proxy and durable power of attorney in place will give your family the essential tools in your estate plan to care for you without added burdens when they are needed. If you would like to learn more about health care directives and powers of attorney, please visit our previous posts.

Reference: Kiplinger (Aug. 7, 2025) “I’m an Estate Planning Attorney: These Are the Two Legal Documents Everyone Should Have”

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How Wealth is Distributed in Blended Families

September 2, 2025

This summer’s passing of Ozzy Osbourne was mourned by heavy metal fans. Whether you liked his music or not, Osbourne left an estate estimated to be worth $230 million plus future royalties, reports a recent article from Think Advisor, “What Wealthy Families Can Learn From a Rock Star’s Estate.” It caught the attention of estate planning attorneys for lessons about how wealth is distributed in blended families. Whether you liked his music or not, Osbourne left an estate estimated to be worth $230 million plus future royalties, reports a recent article from Think Advisor, “What Wealthy Families Can Learn From a Rock Star’s Estate.”

There’s no estate battle for now. However, only time will tell if the Osbourne family faces issues like those of many blended families. There’s no simple playbook for these situations, and the best outcomes require the counsel of an experienced estate planning attorney and savvy planning.

Creating trust structures to balance a surviving spouse’s financial well-being with inheritances for children from prior marriages takes knowledge and experience. A plan needs to be proactively created and regularly revisited to affirm the choices made. The challenge is anticipating potential disputes.

An ill-conceived plan would be to place all the assets in a single trust to benefit the surviving spouse during their lifetime and then have the assets flow to the biological children after their death. This sounds like a good solution. However, the arrangement puts the surviving spouse’s interests at odds with those of the children. They’re waiting for the surviving spouse to die for their inheritance and have no control over how much money is spent. They might end up with nothing, despite the best intentions of the deceased spouse.

Another solution with potential for disaster is creating an estate for the benefit of the surviving spouse and putting one or more of the biological children in charge of the estate in an attempt to balance the structure. The surviving spouse is now dependent upon the biological children to ask for money, which can create more problems than it solves.

A controlling trustee is often considered a potential solution for blended family estate plans. If the surviving spouse is intent on blowing through the money, the children can go to court and file a lawsuit to ensure that their rights and interests are protected. However, litigation is expensive and divisive.

A better idea might be to leave the house and a portion of the liquid estate to the surviving spouse, while leaving the rest of the estate to the children. The goal is to prevent tension between family members over access and control of assets.

An estate plan for a blended family requires effective communication, thorough planning and a delicate balance to protect the interests of all parties. It’s not easy. An experienced estate planning attorney can help you understand how wealth is distributed in blended families to ensure that it remains effective over time. The result of a blended family remaining a family after one of the spouses has passed can be more of a legacy than wealth. If you would like to learn more about planning for blended families, please visit our previous posts.

Reference: Think Advisor (Aug. 11, 2025) “What Wealthy Families Can Learn From a Rock Star’s Estate”

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Parents with Young Children need an Estate Plan

August 27, 2025

More than 60% of parents with minor children don’t have a will, according to several national surveys. This is a serious lapse, as parents need a will to appoint a person to raise their children if the parents die. The solution is not that difficult, says a recent article from Seattle’s Child, “Why every parent needs a will.” Parents with young children need to have an estate plan.

An estate plan includes several documents serving to protect children in case of their parents’ death. The guardian is named in the will. Trusts are used to provide funds for the child’s upbringing and to protect any inherited assets, so the child can’t access them until they are mature enough to make sound financial decisions.

If there is no will or other estate planning documents, there are default laws and procedures to determine who will become the guardian of the minor child and what will happen to the parent’s assets. The court could decide the child should be raised by a blood relative who lives many states away, taking the child from their home and community during a time of great stress.

If parents would rather the child remain in their school and community, having a will and naming a close family friend as their guardian could prevent the child from being uprooted from everyone and everything they know.

Many people make the mistake of thinking their spouse automatically inherits their estate. However, this depends upon the laws of your jurisdiction. In some states, the estate is divided between the spouse and the children. If the children are minors, they cannot legally inherit property. Therefore, their portion of the inheritance may be controlled by an administrator appointed by the court. If this occurs, the surviving spouse will receive a smaller inheritance, which may make it financially impossible to stay in the family home. Placing the surviving spouse in a position where they must request funds from a court-appointed administrator is not a pleasant legacy to leave.

If there is no will, the court divides assets according to the law of intestacy—the state’s laws. Children who inherit a full estate upon reaching the age of 18 are rarely ready to manage large amounts of money. Creating a trust for the benefit of a child, with a trustee who will manage the assets and provide directions on when to disburse funds and for what purposes, solves this problem.

When going through the estate planning process, you’ll also need to select someone to be your personal representative after you’ve died. The executor obtains death certificates, notifies Social Security and other government agencies, consolidates assets, pays bills and pays taxes for the estate and your final personal income taxes.

Parents with young children need to have an estate plan. Planning for what could happen in the future when your children are young is not as much fun as going on a family vacation or decorating a nursery. However, taking care of this will ensure that your beloved children are protected according to your wishes. This is a legacy of love. If you would like to learn more about planning for young parents, please visit our previous posts.

Reference: Seattle’s Child (July 25, 2025) “Why every parent needs a will”

A Living Will Should be Part of Your Estate Plan

July 31, 2025

Creating a living will is the best way to provide your loved ones with the guidance they need in making decisions if you aren’t able to communicate your wishes. This is the clear message from an article, “Living wills take guesswork out of medical care,” from C&G Newspapers. A living will should be a part of your estate plan.

A living will is different from a last will and testament, which concerns itself with property distribution after you have died. A living will addresses your wishes regarding life-sustaining treatment. They are used when the signer can’t speak on their own behalf.

Most families prefer not to address this issue at all, which is understandable. The prospect of your loved one being too sick or injured and unable to tell you what kind of end-of-life care they want is not a pleasant one. However, the alternative to not having a living will is for a family or spouse to guess what you would have wanted.

This is an unfair burden to place on others, who may have to live with the worry of never knowing if their decision was the right one. Having a living will also prevents the family from fighting when one person believes you want to be kept on life support, while the other believes you’d prefer not to spend any more time than necessary hooked up to artificial feeding tubes, a ventilator, or a heart machine.

Living wills are typically prepared by estate planning attorneys, often in conjunction with other estate planning documents, such as a last will, power of attorney, healthcare power of attorney and trusts.

While a living will is not a legally enforceable document, it is invaluable in clarifying your wishes and helping loved ones during a medical crisis. The living will lists very specific preferences and can be as detailed as desired. It may set a time frame for how long you want to be kept on a ventilator, what kind of pain medications you’d wish to have and even when you would like to terminate life support.

Withholding life-sustaining care is a difficult decision to make, and the person must be resolute about following your directions, regardless of their own feelings about the choices. They may also need to withstand challenges made by family members, who may have strong feelings about your wishes.

A document regarding organ donation could be prepared. However, this is usually decided by the person named as the healthcare proxy.

Having a comprehensive estate plan created by an experienced estate planning attorney is a gift to your family. You should have a living will as a part of that estate plan. It will allow you to clarify your intentions in the most challenging circumstances is an act of kindness, as it avoids the added pain of uncertainty, family squabbles and removes doubt in a time of great emotional duress. If you would like to learn more about living wills and advanced directives, please visit our previous posts.

Reference: C&G Newspapers (June 24, 2025) “Living wills take guesswork out of medical care”

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Estate Planning Mistakes Financial Advisors Make

July 24, 2025

Many families rely on financial advisors to assist with retirement planning, investments and estate planning. While advisors often provide sound financial advice, they are not estate planning attorneys. Relying on them alone can result in costly oversights, especially when it comes to protecting your estate from taxes, probate delays, or unintended beneficiaries. There are certain estate planning mistakes financial advisors make that can be avoided.

Misunderstanding the Limits of Beneficiary Designations

One of the most common mistakes is assuming that beneficiary designations on accounts, such as IRAs or life insurance, fully replace the need for a will or trust. While these designations do allow assets to bypass probate, they don’t address complex family dynamics, minor children, or long-term asset protection. Advisors may also fail to remind clients to update their beneficiaries after significant life events, such as divorce or remarriage, which can lead to unintended consequences.

For example, an outdated beneficiary form can result in a 401(k) payout being left to an ex-spouse, despite the instructions in your will. Coordinating these designations with your estate planning documents is critical.

Failing to Recommend Trust Structures

Advisors sometimes overlook the role that trusts can play in preserving wealth. Trusts offer more control than simple beneficiary designations or joint accounts. In certain situations, they can offer privacy, provide for children with special needs and delay distributions to young or financially immature heirs.

Advisors may hesitate to suggest trusts because they fall outside their direct scope of service. However, when significant assets or family complexities are involved, trusts are often essential. An estate planning attorney can work with your advisor to build a more protective structure.

Overemphasizing Tax Avoidance

While minimizing taxes is important, it should not come at the expense of a clear and functional estate plan. Advisors sometimes focus too much on strategies to reduce estate taxes and neglect broader concerns, such as family dynamics, asset protection, or incapacity planning.

Estate planning is about more than saving money—it’s about making sure the right people have access to the right assets at the right time. A plan that’s tax-efficient but fails to name guardians for minor children or does not include powers of attorney for healthcare and finances, is incomplete.

Inadequate Planning for Incapacity

Advisors often overlook what happens if a client becomes incapacitated. Without a power of attorney and healthcare directives, families may be required to undergo court proceedings to gain decision-making authority. Planning for incapacity is just as important as planning for death.

Clients need to understand that their investment accounts—and their broader financial lives—must be managed even if they’re unable to make decisions. This requires legal documents that go beyond an advisor’s purview.

The Importance of Collaborating with an Estate Planning Attorney

Many of these estate planning mistakes financial advisors make that can be avoided by working with an estate planning attorney. A good financial advisor should encourage collaboration with an estate planning attorney. The law surrounding wills, trusts and incapacity is complex and varies from state to state. Advisors who try to handle everything risk leaving their clients vulnerable.

Your advisor and attorney should instead work together. The advisor brings knowledge of your financial goals and accounts; the attorney brings the legal tools to protect those assets and pass them on according to your wishes. If you would like to learn more about estate planning, please visit our previous posts.

Reference: U.S. News & World Report (Sept. 10, 2021) “5 Estate Planning Mistakes Financial Advisors Make

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What’s the Difference Between Estate and Trust Administration?

June 9, 2025

When loved ones die, their assets don’t automatically transfer to heirs. Whether the decedent had a will, a trust, or both, someone must carry out their wishes and follow legal steps to ensure that everything is distributed properly. This is where estate administration and trust administration come in. What’s the difference between estate and trust administration?

Both processes involve managing assets, paying debts and ensuring that beneficiaries receive what they are entitled to. However, the similarities end there. The legal structures, court involvement and administrative duties vary significantly depending on whether the assets are passing through probate or being managed under a trust.

Understanding the distinction helps families avoid delays, prevent disputes and choose the right planning tools.

What Is Estate Administration?

Estate administration refers to the legal process of settling a deceased person’s affairs when assets are passed through a will or when no will exists. This process is commonly known as probate.

In probate, a court oversees the distribution of the decedent’s property. The executor named in the will (or an administrator appointed by the court if there is no will) is responsible for:

Collecting and inventorying assets
Notifying creditors and paying valid debts
Filing tax returns
Distributing remaining assets to beneficiaries according to the will or state intestacy laws

The probate process can take several months or longer, depending on the complexity of the estate, state laws and whether disputes arise. While probate ensures court oversight and accountability, it can also be public, time-consuming and costly.

What Is Trust Administration?

Trust administration occurs when a person dies with a valid trust, typically a revocable living trust that becomes irrevocable upon death. Assets titled in the name of the trust avoid probate and are instead managed privately by the named trustee.

The trustee’s duties include:

Identifying and managing trust assets
Notifying beneficiaries
Paying debts and taxes
Distributing trust property according to the trust’s terms

Unlike probate, trust administration usually does not require court involvement. This results in faster, more private handling of the estate. However, the trustee is still legally obligated to act in the best interests of the beneficiaries and follow the terms of the trust precisely.

Trustees may still need legal or financial guidance, especially if the trust includes business interests, real estate, or ongoing support for a minor or special needs beneficiary.

The Roles of Trust and Estate Administration

What’s the difference between estate and trust administration? Neither estate nor trust administration is inherently better. Instead, they serve different purposes depending on the family’s needs and the deceased’s planning goals.

Trusts can streamline the asset distribution process, reduce court involvement and protect privacy. However, they require planning during life to fund the trust and title assets properly. A will, by contrast, is simpler to create but often leads to a lengthier probate process after death.

In many cases, a comprehensive estate plan includes both a will to address any remaining assets outside the trust and a trust to manage major property.

Proper planning with a qualified estate planning attorney ensures that the chosen administrator or trustee understands their role and is legally equipped to handle responsibilities smoothly. If you would like to learn more about estate administration, please visit our previous posts.

Reference: Justia (October 2024) “Trust Administration Law”

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Steps to Avoid Inheritance Issues in Second Marriages

May 13, 2025

Second marriages often bring joy, stability and a fresh start. However, they can also create complicated estate planning challenges. When one or both spouses have children from previous relationships, the risk of conflict over inheritance increases dramatically. Individuals often assume that love and goodwill will prevent disputes. However, without clear legal documentation, misunderstandings, unintentional disinheritance and even litigation can follow. Protecting your spouse and your children—biological and step—requires planning that accounts for family dynamics, legal priorities and financial realities. There are steps you can take to avoid inheritance issues in a second marriage.

Understand How the Law Treats Second Marriages

State intestacy laws (those that apply when someone dies without a will) typically prioritize spouses and biological children. In many cases, if a person dies without a clear estate plan, the surviving spouse will receive a significant share, possibly even everything, leaving stepchildren with little or nothing.

Even with a will, challenges can arise. A surviving spouse may claim an “elective share,” a legal right to a portion of the estate that can override the terms of a will. Children from a previous relationship may be unintentionally disinherited if all assets pass to the surviving spouse, who then distributes them according to their own will, or not at all.

These risks are exceptionally high in cases where only one spouse brought significant assets to the marriage or when there is a considerable age difference, business ownership, or a family history of conflict.

Use Trusts to Protect Both Spouse and Children

One of the most effective tools for second marriage estate planning is a trust. A revocable living trust allows you to maintain control over your assets during your lifetime, while outlining exactly how they should be distributed after your death.

For example, a Qualified Terminable Interest Property (QTIP) trust can provide income to a surviving spouse for life, with the remainder passing to the deceased spouse’s children. This structure protects both parties: the surviving spouse is financially supported, and the children are assured a share of the estate later.

Trusts can also help avoid probate, preserve privacy and reduce the risk of disputes. Unlike a simple will, a trust allows for more detailed instructions and layered planning.

Keep Beneficiary Designations Up to Date

Many assets—like life insurance policies, retirement accounts and bank accounts—pass directly to the person named as a beneficiary, regardless of what’s written in your will. That means an ex-spouse could still receive your IRA if you never updated the paperwork.

Review your beneficiary designations after remarriage to ensure that they reflect your current wishes. In blended families, dividing assets across multiple accounts may be appropriate to benefit both your spouse and children directly.

You should also consider how these accounts fit into your broader estate plan to ensure no one is unintentionally left out.

Communicate Your Intentions Clearly

Estate disputes often stem from unmet expectations. Children may assume they will inherit certain assets, only to learn after a parent’s death that those assets were left to a stepparent. Likewise, a surviving spouse may be surprised to learn that children from a previous marriage are co-owners of the family home.

The best way to avoid this confusion is to talk openly with family members about your wishes. Explain your decisions, address concerns and show how your plan provides for all parties involved. These conversations may be uncomfortable. However, they are often the most effective way to prevent conflict.

Taking these steps to avoid inheritance issues in a second marriage can mean the difference between family harmony and chaos. Putting these intentions in writing with the help of an estate planning attorney ensures that everyone’s rights and responsibilities are legally protected. If you would like to learn more about inheritance and estate planning, please visit our previous posts.

References: CBC News (April 1, 2025) “Director Norman Jewison’s wife cut him off from family, coerced him to change $30M will, lawsuits claimed” and Marriage.com (Oct 12, 2023) “5 Tips to Avoid Inheritance Issues in Second Marriages”

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Estate Planning for Single Dads

April 23, 2025

Estate planning is essential for all parents. However, when it comes to estate planning for single dads, the stakes are even higher. Without a co-parent to step in, ensuring that guardianship, financial stability and legal protections are in place is critical. A well-structured estate plan provides peace of mind by securing an inheritance, appointing a guardian and safeguarding financial assets to protect children in the event of unexpected circumstances.

Choosing a Guardian for Minor Children

For single dads, one of the most important estate planning decisions is naming a guardian for their children. If a father passes away or becomes incapacitated without legal documentation, the court will decide who assumes parental responsibilities. This process can be lengthy, stressful and may not reflect the father’s wishes.

Selecting a guardian requires considering factors such as financial stability, parenting values and the individual’s willingness to take on the responsibility. It is also wise to name an alternate guardian in case the first choice is unable to serve. Once a guardian is chosen, the decision should be legally documented in a will to ensure clarity and prevent disputes.

Creating a Financial Safety Net

Single fathers often bear full financial responsibility for their children, making it crucial to ensure that funds are available for their long-term needs. A life insurance policy is a key tool that provides financial security in the event of an untimely death. The policy’s payout can cover living expenses, education and healthcare costs, easing the financial burden on guardians or surviving family members.

A trust can also help manage assets for children until they reach adulthood. Unlike a simple will, a trust allows the father to specify how and when funds should be distributed. This prevents young beneficiaries from receiving a large sum of money before they are mature enough to handle it responsibly. Naming a trustee ensures that assets are managed according to the father’s instructions and used solely for the benefit of the children.

Establishing Power of Attorney and Healthcare Directives

Incapacity is often overlooked in estate planning. However, single fathers must prepare for situations where they cannot make medical or financial decisions. A power of attorney (POA) designates a trusted person to handle financial affairs if the father becomes unable to do so. This prevents accounts from being frozen and ensures that bills, mortgages and other obligations continue to be paid.

A healthcare proxy, also known as an advance directive, outlines medical treatment preferences in the event of a serious illness or accident. This document ensures that medical decisions align with an individual’s personal values and wishes, thereby avoiding confusion and unnecessary disputes among family members.

Planning for a Child’s Inheritance

Inheritance planning is another critical aspect of estate planning for single fathers. If no legal documentation is in place, assets may be subject to probate, a court-supervised process that can delay inheritance and incur unnecessary costs. A will clearly specifies how assets should be distributed and who should manage the estate.

For fathers with minor children, a custodial account or trust provides additional control over how funds are used. This ensures that money is allocated toward education, housing and daily expenses rather than being mismanaged. By structuring the inheritance properly, fathers can preserve wealth for their children’s future, while minimizing legal complications.

Updating Beneficiary Designations

Many assets, such as retirement accounts, life insurance policies and investment accounts, allow account holders to designate beneficiaries. Single fathers should review these designations regularly to ensure that the correct individuals are listed. Failure to update these documents after major life events, such as a divorce, can result in assets unintentionally passing to an ex-spouse instead of children or other intended heirs.

Beneficiary designations take precedence over wills, making them one of the most important aspects of estate planning. Keeping them up to date ensures that assets pass directly to the designated recipients without going through probate. Estate planning for single dads does not have to be daunting. Work carefully with an experienced estate planning attorney to do it right. If you are interested in learning more about estate planning for single parents. please visit our previous posts.

Reference: Fidelity (July 12, 2024) “Single parents estate planning”

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Category: Medical Directives

Protect Your Child’s Inheritance in a Second Marriage

Travelers Need These Estate Planning Documents

Health Care Proxy and Power of Attorney are Essential Tools in your Estate Plan

How Wealth is Distributed in Blended Families

Parents with Young Children need an Estate Plan

A Living Will Should be Part of Your Estate Plan

Estate Planning Mistakes Financial Advisors Make

Misunderstanding the Limits of Beneficiary Designations

Failing to Recommend Trust Structures

Overemphasizing Tax Avoidance

Inadequate Planning for Incapacity

The Importance of Collaborating with an Estate Planning Attorney

What’s the Difference Between Estate and Trust Administration?

What Is Estate Administration?

What Is Trust Administration?

The Roles of Trust and Estate Administration

Steps to Avoid Inheritance Issues in Second Marriages

Estate Planning for Single Dads

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