Getting Married Again? How To Keep Your Assets Safe for Your Kids

If you have decided to get married again, you should review all your financial information before you take this important step. How to keep your assets safe for your kids is very simple to do.

Getting Married Keep Your Assets Safe For Your KidsFirst off, you and your new spouse should love, respect, and have communication with each other. So, there has to be a degree of understanding from both parties. If you have great jobs and achieved goals, then there should be retirement and life insurance started for the family or families and the kids are already listed as beneficiaries.

Check state laws to absolutely make sure the kids do get everything. Believe it or not some states say it all goes to the spouse, no choice! This is also if there was a will and life insurance was to go to them.

There has to be a prenuptial signed if one or more parties are very well off financially. No matter how much love there is, this should be highly respected and understood, as caring for the welfare of the kids must come first. Their needs would have to be taken care of if something suddenly happened.

Also, a guardian would need to be appointed. Keep your head out of the clouds and use your brain wisely. A family member or close friend would be who you (and the children) know, like and trust. Your spouse can be added down the road if things really did work out. Never appoint the new spouse as the guardian right from the beginning.

One way to structure this is to change the beneficiary over to the kids on everything and the spouse as the guardian. If financially independent, definitely set up a trust fund for each child. No matter what happens between the two of you down the road, the kids are taken care of financially for the future.

These are all questions that wives should ask BEFORE getting married! If you would like a free consultation about your options, give me a call today 303-919-1020! We are always happy to sit with both of you and discuss ways to make everyone happy and secure!

Getting Married Again? How To Keep Your Assets Safe for Your Kids
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