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Remarrying in California? Some things to think about

It's certainly understandable why estate planning concerns might differ widely between couples just starting out on a first-time marriage and individuals who are tying the marital knot for a second or subsequent time, respectively.

In the former case, planning thoughts and processes of California couples often -- although not always, of course -- focus primarily on community property that is jointly and equally owned.

Conversely, many people marrying for a second time have an existing financial history and assets that one media account notes can give rise to "competing goals" in the realm of estate planning.

That reality can make focused and closely tailored planning compellingly important for a state resident who is not saying "I do" for the first time.

And it's easy to see why. As the above article points out, a person who is remarrying often has existing children from a prior marriage who he or she is understandably concerned about. Additionally, that individual might have considerable assets that have built up over years in investment accounts, through pension plans and stock options, and as a result of purchased real estate.

In some instances, and for good reason, such assets might want to be delineated as separate property to promote their security and to ensure their future application to loved ones' needs.

On the other hand, a remarrying individual might reasonably want to ensure that a spouse is duly protected against various risks.

Creative estate planning employing tailored trusts and other vehicles can help remarrying couples in California ensure that all their needs are identified and addressed. An experienced planning attorney can answer questions and bring proven advocacy to bear on behalf of any state resident with planning concerns.

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