A successful internist, he was 45 years old when he married his second wife, Melanie. To protect his two children from a previous marriage, John established a trust and named the children as beneficiaries. But John's plan may be sabotaged if Melanie decides to sue for a share of the money when he dies. To do this, consider a Qualified Terminal Interest Property, or QTIP, Trust. This trust lets your surviving spouse enjoy access to the assets during his or her lifetime, but enables those assets to pass to your children upon the surviving spouse's death.
Most states consider inheritances the property of the heir.
Just be sure you keep the money in a separate account, or it might be considered community property if you divorce. Generally, any income or other property acquired during the marriage will be deemed community property also. After the Wedding Now that the wedding's over, it is particularly important that you revisit your financial plan. Now that a new family is counting on your income, you may need to increase your life and disability insurance. If you are in your 50s or older, you should also purchase long-term care insurance, because odds are high that you or your spouse may need such care in the future.