Legal Question in Wills and Trusts in Maryland
I am remarried & I want to know that if I set up a trust in order to leave my children the small amount of money I have, is my second husband still entitled to some of that money if I die?
1 Answer from Attorneys
There's a lot of flexibility in how a trust is drafted. You should consult a Maryland estates and trust attorney to do the work for you. If this is your life savings, you should have it done correctly.
With that said, if you don't want your 2nd husband to have access to the money in the trust, that can certainly be accomplished. If you want your 2nd husband to actually oversee your children's expenditures (not sure if they are grown "children" or minors?), you can make him a trustee of the trust so that he has discretion in how the money is spent -- usually on the "health, education, and welfare of the children in the trustee's discretion."
Best of luck.********The above is for informational purposes only and does not create an attorney-client privilege.********