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How can you avoid accidentally disinheriting your children?

On Behalf of | Feb 23, 2020 | Probate

After your first marriage, it is common to marry again. If you find yourself in this situation and you have children from your first marriage, it is vital that you make sure you do not accidentally disinherit your children. This is a real risk that you face if you do not update and maintain your Florida estate plan or if you do not have an estate plan.

CNBC explains that when you remarry, the law may give all your assets to your spouse. Additionally, if you make your spouse your beneficiary for insurance policies or other accounts, then he or she will get those assets as well. You must specify in an estate plan or at the very least, your will that you want certain assets to go to your children.

In the time between your first and second marriages, your children become your primary beneficiaries. By remarrying, your wife now takes that spot. You would have to rely on your new spouse to give your children any assets you want them to have if you lack an estate plan, which can be a sticky situation. So, you have to make an effort to fix the situation, so your children will receive the assets you want them to if you should die.

Make sure that you account for all assets. Watch out for anything you jointly own with your spouse as the law will usually award this to your spouse. Also, do not forget about family heirlooms that you want your children to have. It is best to list out everything and not rely on your family to handle distribution after you are gone. This information is for education and is not legal advice.