Hello,
I need advice on how to best plan my estate, a bit of backstory.
I am 35 and currently married, I have full custody of my 8 year old daughter, her biological mother lives in another state and doesn't have much contact with her other than a few phone calls etc.
My wife has a 6 year old daughter from a previous relationship, and we have no children together.
How do I plan my estate to ensure that my wife is taken care of, but also ensuring my daughter is financially secure. I currently have 500k in life Insurance and a growing retirement account.
If I were to die, I would much rather my wife get custody of my daughter, though I know that may not be possible. My daughter's mother isn't a bad mom per se but hasn't made very good life choices, many different men in and out, no job etc. My wife has already said she'd try for custody but the courts may laugh that off.
How should I plan to ensure that if my wife cannot get custody a good portion of my estate would be put back to help support my daughter and establish her financially when she gets older. I also want to be sure my wife and stepdaughter are secure as well.
Thank you for your insight!
Submitted February 08, 2019 at 06:38AM by jonadcock http://bit.ly/2SG2Cq0
