Legal Question in Wills and Trusts in New York

Re: will marriage change my will?

The main thing that marriage will change is that regardless of your will provisions, in florida, the spouse is entitled to an elective share of your estate. You may want to consider putting some assets in both your name and that of your children's as well as some lifetime gifts to them. Best wishes.

Re: will marriage change my will?

Moving to Florida will not invalidate your will. BUT, getting married will have a MAJOR impact. Upon your death, your spouse would be entitled to a life estate in any home in your name, as well as a percentage (elective share) of your entire estate, including assets jointly held with others and assets/accounts which pass automatically to named beneficiaries. You MUST have a pre-marital (prenuptial) agreement to avoid this result. Do not hesitate to address this issue - contact an attorney. Such an agreement protects your spouse's assets as well, so it is in his best interests also.

Re: will marriage change my will?

Marriage will not change the Will, but can create complications as marital rights can thwart some of your planning. You need to check on what Florida's laws are on spousal rights to premarital property owned individually at your date of death. Most states allow a surviving spouse a life estate in real estate and a percentage of the deceased spouse's estate (marital election). To my knowledge these rights also exist in Florida, except that assets held in a trust are not covered. To protect yourself and assure your children will receive your estate, I suggest having a Florida attorney prepare a pre-marital agreement. I strongly recommend creating a living trust before your marriage. Depending upon the size of your estate, not only will it protect the assets from a marital claim, but may be needed for estate planning. It can be revocable or irrevocable, allow you income and principal rights, and can provide for your husband should he need income. However, it should prevent the spousal percentage from being awarded. My experience is that improper premarital planning in second marriages leads to unexpected results, which could deprive your children of receiving their full inheritance. I have several attorney friends in Florida to whom I could recommend you, depending where you anticipate moving.

Re: will marriage change my will?

I certainly cannot comment on the contents of your will and, in particular, the trusts since I have not reviewed the will. However, the best way to protect your estate from your prospective wife's claims is to execute a pre-nuptial agreement.

I suggest you consult with an attorney.

Let me know if you require further help.

Daniel Clement