Yes.  If you are concerned about making sure that some of your property goes to your children in this situation, you can take certain steps in a will to help accomplish your goals.  For example, you could make a gift of a certain amount of cash or a certain percentage of your estate to your children, outright or in trust at your death.  (However, there may be negative tax consequences in doing this.)  You could also leave property in trust for the benefit of your spouse with what is left of the trust (the remainder of the trust) passing to your children at your spouse’s death.  This type of arrangement has potential problems as well.  These are just two examples of steps you can take in this situation.  However, this is very personal and the appropriate provisions to include in your will depend on your family dynamics and your estate planning objectives.  Having a property drafted will can help.  You should contact an attorney to assist you.

Last updated on January 6, 2011 by Glenn Karisch