Question
Bob is married to Janice, who is his second spouse. Bob has four children from his first marriage. Bob and Janice do not have any
Bob is married to Janice, who is his second spouse. Bob has four children from his first marriage. Bob and Janice do not have any children from their marriage. Which forms of property ownership, and which trust arrangements will enable Bob to provide financial benefits for Janice for the balance of her life, yet insure that assets remaining in the trust will pass to Bob's four children upon Janice's death? Please describe each trust form in sufficient detail to clearly explain the operational mechanics both during Janice's remaining life and following her death. Would it matter at all if Janice was not a U.S. Citizen? If so, how?
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