Jeff Fouts: “Estate planning attorney Jeff Fouts here. We talk a lot about things that can impact what you’ve earned. You’ve worked hard for many, many years, decades perhaps, and you’ve accumulated something. We have to think of these things.
What are one of those things that can impact you, your wife, your children, your grandchildren? What about marriage, remarriage and divorce? We live in America, and in America, we have something called “No-Fault” divorce. What does that mean?
It means that your spouse can divorce you, or you can divorce your spouse, for no reason whatsoever. For no reason at all – thus the term “No Fault”. That’s why divorce is so prevalent in America. The divorce rate is 50 percent for first marriages, 62 percent for second marriages, and 74 percent for third marriages.
You may say, ‘Jeff, I don’t believe in divorce.’ Fine. I don’t believe in it either, but it doesn’t reallymatter what we believe in, because “No Fault” Divorce is real and it is definitely being used out there.
If you want to protect against family your money going out of your bloodline later down the road perhaps, tan you cannot simply hope that it won’t happen. Hope isn’t much of a game plan. You must plan ahead.
You, like myself, probably hope your house doesn’t burn down. But both you and I have house insurance. Why? Because merely hoping something bad doesn’t happen isn’t enough, You must take action to plan ahead.
If we can ever help you, give us a call. Have a good day.”
- Updating Your Financial Power of Attorney When the Bank Won’t Listen - May 3, 2021
- Contesting a Will or Challenging Revocable Trusts - April 26, 2021
- Estate Planning Updates: Review & Update Your Estate Plan - April 20, 2021