We all know of families in which a grieving widow or widower with young children makes a poor choice upon re-marriage. The wealth of the deceased spouse, which should have been used to provide for the children, can be frittered away by a new spouse. That new spouse may even then divorce and walk away with half of what was left of the deceased spouse’s assets.
For example, a husband with a wife and three children, dies unexpectedly with no asset protection or estate planning having been done. His widow inherits the deceased husband’s entire estate of $1 million. The widow marries her personal trainer and together, (co-mingling assets), they open up a personal training studio. The studio operates for a while, but does not do well, and finally closes. At that point, they have blown the full $1 million on the unsuccessful business venture. The personal trainer meets a new wealthy widow and files for divorce, leaving the wife and three children essentially penniless.
The attorneys of the Vose Law Firm are trained to design, implement, and maintain asset protection and estate planning stategies to prevent such a tragedy from occurring. For instance, a trust could require, as a condition of receiving funds from the trust, that the surviving spouse execute a prenuptial agreement before re-marriage.
The Vose Law Firm can establish estate planning strategies that ensure that the assets meant to provide for the needs of your children can be protected and used only for the purposes you desire, such as educational expenses and protecting your bloodline.
Call us to begin the process of protecting you and your loved ones at 407-645-3735 or 1-866-789-VOSE.
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