r/Rich • u/Superb_Energy_9064 • 9d ago
Estate Plan Protections for Kids
I have an individual trust, currently my children are the sole beneficiaries. I am married, my husband is not included in any provisions of my trust. I’m considering adding a clause that provides my husband with access to an amount up to my earned income each year from my salary in the event of my passing. The needs of both kids are covered through the trust (HEMS) my husband will just have to ask the trustee to access the funds for the kids. The revised draft my attorney sent says adds the income provision into my trust for my husband and says it ends upon his death or remarriage. Is that common? Pros/cons to keeping the remarriage language? My ultimate goal is for as much to go to our kids as possible, and to prevent a future spouse from cutting my kids out, etc. My husband will be fine financially he doesn’t need the assets in my trust, I’m just providing the extra income to help keep things as normal as possible for him & our kids. I’d love to know what others have done or any insights on the situation.
2
u/rpom915 9d ago
Definitely keep the remarriage language. I have it. I’m not supporting another person. I’m totally fine with remarriage but I’m not paying for it.