Let’s say wife (W) has a child from a previous marriage, and the marries husband (H). W and H want to create a new living trust. This situation is quite common these days, with multiple marriages and blended families. Luckily there are ways to address the competing interests of the spouses. We will establish either a QTIP or Credit Shelter Trust, preferably with a 3rd party trustee not subject to H’s influence, into which the deceased settlor’s property will flow on his or her death. You can give a power of appointment over the survivor’s trust (the “A” trust) while… read more →