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Lately there seem to be a number of articles, at least were I am reading; with children having difficulties with family heirlooms or inheritance since their parent passed away and their new spouse is laying claim to all property by rule of law.

I lived a bit of this myself.  My mother was dying and had not adequately finished what she had planned for what would happen when she passed. I had the attorneys complete the documents. I then had to scramble around with two witnesses and a notary to get everything signed before it was too late.  I was lucky, the spouse signed the forms.  He signed them reluctantly, but he signed them.

So, my inheritance was spared.  Not all are so lucky.  When I talk to older clients, they say “oh yes, we have a will, it was written when the kids were eight and ten”.  So no, they don’t, because their kids have kids now; and the laws have changed.

Since I have more and more clients who are divorced or separated, this is an issue they should start thinking about.  What do they want their kids to have?  Not something that someone just divorced or separated, want to think about.  They are living in the immediate now and not the distant future.  But the sooner it is addressed the better. My wife and I have long ago outlined what we thought each child would want and what we want them to have.

Now all I need to do is but it all in writing…   I am halfway through the Trust and the wills are drafted.  But I am not putting anything in front of an attorney until it is all complete.  Only four years in the works.  I have seen too many Trusts and wills that I thought were for shit.  This is why I am drafting my own, I am working off of a client’s I really did like, but it needed a lot of work for my world is a more complicated situation.  I have my hands in several businesses which complicate things.

But I bet I am farther along than you are…

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