A new marriage comes with a host of responsibilities. If you have children from another relationship, you may want to consider revising your estate plan.
Building an estate plan with your biological children in mind is possible, even if your new spouse is not entirely on board. There are a few ways you can ensure that your biological children receive the inheritance you want them to have.
Can a will pass an inheritance?
Probate courts in Texas ensure the executor of a will follows its instructions. However, when one spouse dies before the other, a will does not always go through probate. If you die owning property maintained in only your name, that portion of your estate will go through probate, but the rest does not.
Can a surviving spouse change your estate?
If you did not set up your estate plan with safeguards to provide a direct inheritance to your children, your surviving spouse could change things after you die.
How can you pass things to your biological children?
You can implement a few measures to grant property and assets to your children outside of a will. Accounts with a beneficiary designation, such as retirement accounts and insurance policies, allow you to name who gets what. These disburse to the named beneficiaries in the percentage ownership you indicate following your death. Trust accounts are also a good way to pass along property outside of probate.
Hopefully, you and your new spouse agree that your biological children should receive a share of your estate. Putting a few safeguards in your plan can provide peace of mind that it happens.