Cutie Pie 156
Junior Member
What is the name of your state (only U.S. law)? New York
I am in a second marriage. My wife and I do not have children. I am estranged from my adult children (two sons) from my first marriage. How can I ensure that all my/our assets remain with my wife after my passing and that this decision cannot be challenged by my children? We originally had a will with a QTIP trust prepared and after consulting with another attorney, we were told that my children could contest the will, sue the estate, tie up assets that my wife would need to live, and ultimately, end up with all the assets. It was this second attorney that suggested a revocable trust instead, but we are not familiar with how this works on a daily basis (like does the Trustee have to sign off on all withdrawals of assets that are in addition to daily living expenses?) and we are afraid that our life would not be our own. We are also uncertain if a revocable trust could still be challenged by my children (they are very agressive and feel entitled and I know they would try to go after everything). What is your advice?
I am in a second marriage. My wife and I do not have children. I am estranged from my adult children (two sons) from my first marriage. How can I ensure that all my/our assets remain with my wife after my passing and that this decision cannot be challenged by my children? We originally had a will with a QTIP trust prepared and after consulting with another attorney, we were told that my children could contest the will, sue the estate, tie up assets that my wife would need to live, and ultimately, end up with all the assets. It was this second attorney that suggested a revocable trust instead, but we are not familiar with how this works on a daily basis (like does the Trustee have to sign off on all withdrawals of assets that are in addition to daily living expenses?) and we are afraid that our life would not be our own. We are also uncertain if a revocable trust could still be challenged by my children (they are very agressive and feel entitled and I know they would try to go after everything). What is your advice?