
Clipping the Financial Thorns of a Second Marriage
Few would argue with the statement that getting married requires a lot of preparation – beyond the dress, venue and wedding cake. The future bride and groom also need to discuss their finances and decide how their assets will either be merged or kept separate, in addition to what should happen if a spouse predeceases the other. That last part is especially important for couples embarking on second marriages. Oftentimes, assets (and children) were accumulated prior to the marriage, which can make these big decisions thorny. Fortunately, trusts and corporate trustees are very effective ‘thorn clippers.’ To learn why, we invite you to read an editorial we wrote for Financial Advisor magazine called “Second Chances.” Throughout this piece, we explain why “sometimes a corporate trustee is the best choice to manage a trust left to a second spouse, and that eventually benefits children of the first marriage.”