I am about re-marry and I do have a will leaving all property and acconts including my 401K to my 3 daughters with my eldest being the executor. Does this protect my 401 k or will I need to have my spouse after we are married sign a waiver?
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I am about re-marry and I do have a will leaving all property and acconts including my 401K to my 3 daughters with my eldest being the executor. Does this protect my 401 k or will I need to have my spouse after we are married sign a waiver?
Quote:
Originally Posted by kate 50
Spouse doesn't need to sign a waiver but depending on your State your spouse will be entitled to a dollar amount and/or percentage of your estate and an asset designated by Will can be tapped to provide that percentage if there is not enough in the estate otherwise.
Avoid the whole problem by making your children direct beneficiaries - saves the probate process on that asset, saves on taxes, it would be passed outside the Will.
Why not give it to them now ? No I don't mean hand them a check or something but start a living revocable trust before you get married ? That way all your intentions are clear and there is no probate with a trust.
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