Remarrying brings new beginnings, but failing to update your estate plan could create serious financial and legal complications. Many assume their assets will automatically go to their spouse or children, but intestacy laws and outdated documents can lead to unexpected outcomes. Without proper updates, a new spouse, children from a previous marriage, or even unintended heirs could receive your assets.

How Intestacy Laws Impact Your Estate

If you pass away without a will or trust, state intestacy laws determine who inherits your assets. In many cases, these laws divide assets between a surviving spouse and children. However, the distribution may not align with your wishes.

Some key risks of intestacy include:

• Your new spouse may not receive everything. Many states split assets between the surviving spouse and children, which can create financial strain.
• Children from a previous marriage may receive less or nothing. If assets automatically pass to a new spouse, children from a prior marriage could be disinherited.
• Unintended heirs could inherit. If no direct beneficiaries remain, state laws may distribute assets to distant relatives instead of chosen loved ones.

Why Updating Your Will Isn’t Enough

Many believe updating a will is sufficient after remarriage, but a will alone may not protect assets as expected. Several factors can override or complicate a will’s instructions, including:

• Beneficiary designations on life insurance, retirement accounts, and bank accounts. If an ex-spouse is still listed, they could inherit these funds instead of a current spouse or children.
• Jointly owned property. Some assets transfer automatically to a co-owner, bypassing the terms of a will.
• State laws affecting spousal inheritance. Certain states grant surviving spouses automatic rights to a portion of the estate, even if a will states otherwise.

How Trusts Ensure Assets Are Distributed Correctly

A properly structured trust offers more control and protection than a will alone. Trusts can:

• Protect children from a previous marriage. A trust allows assets to support a surviving spouse while ensuring children eventually receive their inheritance.
• Prevent unintended beneficiaries. Unlike a will, which goes through probate, a trust privately distributes assets according to specific instructions.
• Shield assets from legal challenges. Wills can be contested in court, but trusts provide more security against disputes.

Steps to Update Your Estate Plan After Remarriage

• Revise your will to reflect your current wishes. Ensure your new spouse and children are properly accounted for.
• Update beneficiary designations on financial accounts. Make sure retirement plans, life insurance, and investment accounts list the correct heirs.
• Consider setting up a trust. A revocable living trust or marital trust can provide clear inheritance instructions while avoiding probate.
• Review state laws regarding spousal rights. Some states require a spouse to inherit a certain percentage, even if a will states otherwise.