Friday, July 29, 2011

Estate Planning Must be Done Right in a Second Marriage to Prevent Problems

In Second Marriages, it is common for the deceased person's surviving spouse and children from the deceased person's first marriage to fight over assets. An example of this type of fight can be seen in a high profile case. Melvin Simon, a shopping mall magnate, died. His assets are being fought over by his second wife, Bren Simon, and Melvin Simon's three children from his first marriage. Seven months before Mr. Simon died, he changed his will giving his second wife, Bren, half of his estate and reducing his children's inheritance significantly. The children say Mr. Simon signed the will under duress. To read more about Mr. Simon's case click here.

It does not matter if an estate of a deceased person is large or small. If the deceased has married two or more times and has children from previous marriages, the chances of there being a disagreement between the surviving spouse and the children from the previous marriages are very high. In second marriages, it is essential that estate planning be done right. Please contact us at Hughes Estate Group to ensure a smooth transfer of assets in the event you are in a second marriage and have children from a first marriage.

Check out our website here.

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