I helped a Mesquite, Texas couple today with their estate planning needs. The husband has had some recent health issues. He had a few questions about protecting their assets if he passed away first and his wife decided to remarry. He wants to make sure that their kids receive their estate’s assets and that they don’t go to a new husband or the new husband’s family.
Their questions reminded me an old, silly joke: Fred and Wilma are sitting together on their front porch one day. Fred asks Wilma out of the blue “Wilma, if I were to die, would you remarry?” Wilma said “Fred, don’t be silly, you are in great health.” Fred said, “I know, but would you?” Wilma said “Maybe so. We’re still pretty young.” Then Fred asked, “Would you let him live in our house?” Wilma replied, “Fred this is weird.” Fred said, “I know, but would you?” Wilma said, “I guess so, its paid for.” Then Fred said, “Would you let him drive my truck?” Wilma said, “Fred, can we stop this?” Fred asked her again. Wilma said, “I guess so. It would just be sitting there I suppose.” Then Fred said, “Ok, one more. Would you let him play with my golf clubs?” Wilma replied, “No.” Fred said, “Why not?” Wilma said “He’s left-handed”.
It’s a silly story designed to illustrate that affairs and remarriage happen. Protecting your assets from remarriage for the benefit of your children is one of things that we do at The Jones Law Firm. There are several ways to do so and they all involve the use of Trusts.
Contact us at The Jones Law Firm to learn more.