Marriage

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Remarriage and Estate Planning

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Remarriage and Estate Planning

n a first marriage, the estate planning goals of each spouse are typically aligned: take care of the surviving spouse for as long as he or she lives, and then divide what’s left equally among the children. This also makes sense because most couples jointly own their assets, and estate taxes favor the surviving spouse.

But in a subsequent marriage, or when marrying later in life or after amassing significant wealth, the goals may not be so perfectly aligned.

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The Lifetime QTIP Trust (Or How to Maintain Control of Your Estate and Keep Spouse No. 2 Happy)

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The Lifetime QTIP Trust (Or How to Maintain Control of Your Estate and Keep Spouse No. 2 Happy)

Estate planning for couples in a second or subsequent marriage can be tricky, especially if their estates are disproportionate. One solution for allowing the well-to-do spouse to maintain control of their property and wealth--but keep their other spouse happy--is the “Lifetime QTIP Trust.”