When older parents get remarried

This article from the Wall Street Journal/Smart Money gives some great information and helpful suggestions regarding property and estates when older parents remarry. Careful consideration should be given to how to provide for a surviving spouse, but also to leave whatever desired (by the parent) inheritance to the children of the prior marriage. A couple possibilities include a prenuptial agreement or a trust.

Without careful planning, the adult children and the surviving spouse may be at odds, even to the extent of fighting over an estate in court. For example,

Most lawyers and financial planners agree that the families that get cross-ways are those that don't communicate. [An Atlanta attorney] says there is a saying in the field: "People get over the loss of a loved one sooner than the loss of an inheritance."