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What estate plan questions should I answer when I get remarried?

If you are one of the many Texas residents who is looking to get remarried after a prior marriage, you will want to take the time to ensure your future plans are in good order. These future plans should include much more than simply where you and your new spouse and family will live or what days each of your children will be with you. These plans should include a solid estate plan with an eye on protecting not just your assets but your children after you die.

According to Fidelity, one of the things you should discuss with your new spouse is how you want to allocate major assets upon your death. Some of these decisions may be made for you if your previous divorce decree stipulates that your former spouse must remain the beneficiary of your life insurance policy, for example. Other obligations from a prior marriage are also important to be factored into your new estate plan. If you owe spousal or child support, how will those orders be fulfilled if you die? Do they need to be?

Guardianship of children in blended families can become complicated when there are children from each prior marriage and then children from the new marriage. Separating siblings can become emotionally difficult for kids, especially in the wake of the loss of parents. Special care should be given to this topic when updating your plans.

Another important thing to outline is what assets or liabilities should remain separate when you marry. This may be a way of preventing the other spouse from carrying your financial burden and it may also be a way of keeping certain things for your children.

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