Legal Question in Wills and Trusts in Maryland
Trusts
I am a divorced mother of 3 adult children. I have a simple will. If I remarry is there any way (perhaps by establishing a trust) to leave my children my assests (either including or excluding my house) without signing a prenuptial agreement? Anotherwords, can I get something set up in advance? This is if I do not want to disclose my assets to a future husband.
2 Answers from Attorneys
Re: Trusts
Transferring assets to a trust prior to a marriage will effectively remove the assets from your estate. Whether you want to disclose those assets to a subsequent spouse, or whether you want to undo the trust later, is entirely up to you.
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Re: Trusts
A trust may be a beneficial alternative. Other alternatives may exist. Each alternative will have related pros and cons. You should discuss this with an attorney.
Given your objective of providing assets to your children, you should understand other associated matters. In this regard a pre-nuptial agreement may also provide benefit.
You should discuss these matters with an attorney so that you better understand your situation and the effect of the option(s) you select.
Joe Holthaus
(410) 750-2567
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