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Living Trust for Second Marriages & Blended Families in New York - Davies Law Firm
From Davies Law Firm - Living Trust for Second Marriages & Blended Families in New York explains how a living trust can provide for a current spouse while preserving an inheritance for children from a prior marriage. In New York, an estate plan after remarriage must account for spousal rights, including the elective share under EPTL § 5-1.1-A, and a trust must be properly drafted and funded to work as intended. Leaving assets outright to a spouse gives that spouse full ownership, which means those assets could pass under the spouse's own estate plan, or under New York's intestacy law, EPTL §…
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