Im thinking about getting remarried and want to know if a revocable living trust is a good thing to assure my children get my pre marriage assets as my first wife (their mother) passed away... my fiancé does not want a prenup she is 23 years younger than me and I want to make sure my kids get the house I own and my tax deferred annuity accounts if I should die before her which is a distinct possibility . I also understand that anything my fiancé and I accumulate after our marriage should be shared equally.I love her but I just want to make sure my kids are provided for.Any ideas or advise would be appreciated.. I live in New York

It looks like a good plan to me, but you had best consult with an estate-planning attorney in New York to be sure.

Why doesn't she want to sign a pre-nuptial contract?

I would check the annuity accounts and see if they have beneficiary designations. It may be that they do in which case designating a beneficiary may have the accounts pass to the beneficiary outside your estate making the need for a trust unnecessary. So that would leave only the house. There may be better ways to ensure they get it.

I agree a consultation with an estate attorney would help.

I appreciate your advise guys... she feels a prenup shows a lack of trust and is no way to start a marriage and that she loves me and doesn't want my money.

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Originally Posted by billy jet

she loves me and doesn't want my money.

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Then she should be willing to sign a pre nup. She says your wanting one shows a lack of trust. But if she doesn't want you money then she should be willing to demonstrate that, especially if she loves you. So frankly the two statements are contradictory.

Bottom line here is you may be able to protect your assets without a pre-nup.

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Originally Posted by billy jet

I appreciate your advise guys... she feels a prenup shows a lack of trust and is no way to start a marriage and that she loves me and doesn't want my money.

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Ok then from my prospective, hire a lawyer, make sure your kids are satisfied, protect your assets and then go and enjoy your new life to the fullest billy jet and have no worries !

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Originally Posted by billy jet

I appreciate your advise guys... she feels a prenup shows a lack of trust and is no way to start a marriage and that she loves me and doesn't want my money.

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If that was true.. she would have not problems signing it. Because what you acquire AFTER the marriage many places is considered community property... so she is hedging her bets by wanting a show of half of everything you had BEFORE you even met her.

Yeah... call me a pessimist... but I've known too many open gold diggers and quite a few who weren't so open about it.

If she won't sign the prenup....by all means protect what you have now..by any means necessary. Once that ring is on she almost certainly IS going to believe at that moment half of everything you have now and half of anything you ever get in the future is hers by right. Saw it happen way too many times.

Great advise from all... I have a lot to consider... I did find out my annuities with my kids listed as beneficiaries are safe from any situation... This is such a great site its helped me quite often over the years

Suze Orman ALWAYS says do the revocable trust. Not the least reason being avoiding expensive, time consuming probate.