USA Today wrote about the complexity of planning for blended families with a dizzying number of familial situations. What the article did not mention is that a trust could be used to address all of the concerns of the individuals. Simply, a trust can be used to retain assets for a second spouse while ensuring that assets are ultimately distributed to children from a prior marriage. Similarly, trusts can be more flexible in making differing allocations among beneficiaries.
Interesting statistic form the article. Of people who live past 85, one half will experience Alzheimer’s disease.