[WSBAPT] Blended Families & Wills

[Robert R. Cole]

I find many of my clients do not want to tie the hands of the survivor 
such as a trust would.  I discuss with them the various options, and 
many choose the contract.  Mine allows the survivor to keep the existing 
will (which splits between the two families) or, if it is changed, 
provides for the decedent's family a "minimum bequest amount" based upon 
a formula, with the amount computed upon the first death.  There 
obviously needs to be trust involved, but there is also third-party 
beneficiary language.

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW

P.O. Box 249

Stanwood, WA 98292

(360) 629-2900 (Telephone)

(360) 629-0220 (Fax)

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On 5/21/2015 10:02 AM, Paul Neumiller wrote:
>
> Revocable family trust agreement that becomes irrevocable upon the 
> first spouse to die.
>
> *From:* wsbapt-bounces at lists.wsbarppt.com 
> [mailto:wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Jim Doran
> *Sent:* Thursday, May 21, 2015 9:31 AM
> *To:* wsbapt at lists.wsbarppt.com
> *Subject:* [WSBAPT] Blended Families & Wills
>
> Is a contract between the husband and wife in a blended family 
> situation the best way to deal with the estate plan?  In particular, 
> how do we bind the survivor to NOT change his or her Will after the 
> first of the spouses dies.
>
> I think I have heard about some sort of contract between the husband 
> and wife that would give the children, as the beneficiaries of the 
> contract, the right to enforce the terms of the contract so that the 
> survivor doesn’t simply change his or her Will and cut out the other 
> children.
>
> What is that contract and are there better ways to deal with this 
> blended family situation?
>
> If you can point me to the right source I will follow the lead.
>
> Thank you.
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street – Suite 205
>
> Bellingham, WA 98225
>
> (360)393-9506
>
> jim at doranlegal.com <mailto:jim at doranlegal.com>
>
> www.doranlegal.com <http://www.doranlegal.com>
>
>
>
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