First and foremost, estate planning should be on everyone’s list of priorities. And yes, even for young adults. It’s always best to be prepared for anything on a scale from the “not-so-bad” to the “absolute worst.”  Either way — think ahead.

Those of you that have remarried: have you thought about readdressing your estate plan (assuming you already have one)? You know… All of your assets, life insurance, pensions, real estate, cars, personal belongings, and debts? Everything that falls under your estate plan can, and inevitably does, go to the wayside when you’re about to walk down the aisle…again. We understand that so much is going on that most people are not thinking of the what ifs from previous marriages, or even the about-to-be new. Like mentioned earlier, be prepared and think ahead.

CNBC published an article that talks about this exact topic: Remarrying? Update Your Estate Plan, and it really broke this all down pretty well. Below is the link.

http://www.cnbc.com/2016/10/14/remarrying-update-your-estate-plan.html

But to sum it up nicely, there are a few things (if not all) in mind while reading it.

John Scroggin, partner of Scroggin and Company of Roswell, Georgia, worded not only how great a bypass trust is, but we believe that it’s fitting for this entire process: “It’s all about protecting from a second, third, or fourth spouse and the divorce issues that can come from that.”