A LITTLE DIDDY ABOUT JACK & DIANNE

Jackson and Dianne were both in their second marriage. They each had two kids of their own coming into the marriage and one child they had together. When planning their estate, they wanted to ensure that the survivor of them would be taken care of, but also wanted to ensure that any remaining assets would pass to their respective children, and not their step-children. In addition, Jackson was concerned that his idiot son-in-law would squander his daughter’s inheritance if given the chance. Diann’s son hasn’t always made the best decisions with money and she worries that his inheritance might get taken by creditors as the result of debts that he has incurred.

They had been told that, without any planning, Mississippi law would divide their assets if equally between their spouse and children upon each of their deaths, and would provide no protection against their children’s divorce or creditors. This is not the plan that either of them wanted. They had a problem. Fortunately Jackson and Dianne found the Morton Law Firm. At an initial consultation with the couple the firm was able to show Jackson and Dianne how they could structure their assets so that they would be available to support the survivor of them when the first one passed, and then pass their assets along to each of their own children in a form that was available to their children, but not available to a spendthrift spouse, divorcing spouse, or a creditor. And all of this could be accomplished without the cost and delay of probate. Had Jackson and Dianne not received the proper guidance they might had done nothing and left the survivor of them without sufficient assets to provide for their support. If they had done an online do-it-yourself plan, they probably would have would up with a will that left everything the surviving spouse and then to that spouse’s children, effectively disinheriting the children of the first spouse to die. But because they got complete advice covering all of their planning options, Jackson and Dianne were able to design their plan to provide for each other, and protect their children. By putting this plan in place, Jack and Dianne now have the peace of mind knowing that everyone in their family will be properly provided for, and provided with an inheritance that is protected from bad judgment, creditors, divorce, and the happenstance of order of death.

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