Protecting Assets in Second Marriages
When one partner within a couple passes away, the remaining partner usually receives the estate from their will.
After a remarriage, this can create complications when it comes to protecting their own assets.
Why can a remarriage cause complications when protecting assets?
A remarriage can create complications when it comes to assets because the remaining
partner can change the will once they have received the combined assets. This means that there is a possibility that the original beneficiaries may not be included and therefore will receive little or no inheritance.
It is quite common that couples in second marriages wish to protect their assets not only during the marriage but also after their death.
Protecting assets in a second marriage
A trust can be established during a person’s lifetime to take effect immediately or be incorporated within a will. Asset protection trusts can protect pre-marital assets, ensuring that they go to chosen beneficiaries, and prevents a new spouse from inheriting everything.
How we can support you
At Taylor Bracewell, our wills and probate solicitors in Sheffield and Doncaster can help advise you about the various options available to you and your situation.
We can advise you on trusts and how they can be used to protect your assets, whilst still making some provisions for your spouse.
For more information about asset protection, click the links below or download one of our helpful guides.
For more support contact our solicitors in Doncaster on 01302 341 414 or, alternatively, our Sheffield solicitors on 0114 272 1884.
We can also help you with any of the following:
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