Estate Planning for a Surviving Spouse

Happy Valentines Day every one! We had a wonderful discussion today on the money radio at 1510am, KFNN. Today we discussed the designing of a Revocable Trust. More specifically, we talked about adding protection for a Surviving Spouse. We also discussed instances in which you might want to create a Decedents  Trust, Exempt Trust, or B Trust with more restrictions. If you have a Revocable Trust, do you know how your B Trust has been created? Do you have a Power of Appointment that you can exercise after the death of your spouse? Or are you locked in with only a stream of income and not the use of any principal? If you don’t know, bring us your Trust and we will review it, free of charge.

If you don’t already have a Revocable Trust, this is a good discussion to have with your spouse. Should the B Trust be restrictive or flexible? Either way, this should not be a discussion that will ruin your Valentines Day as there is no correct answer. For some instances, both the husband and wife might prefer that the B Trust be more restrictive for the protection of the surviving spouse. In another instance, the B Trust can be flexible and both husband and wife feel comfortable with that.  For more information as to when a couple may prefer flexible or restrictive  B Trust, click here to listen to today’s show in its entirety.  For a schedule of our upcoming shows, or to listen to past shows, visit our Radio show page here. Have a great Valentines Day!

Matt Dana


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