It Doesn't Have to be Complicated

Barb and Roger had known each other since High School but hadn’t been in touch for several years. Skip forward 35 years and Roger’s wife had sadly passed away and Barb had been through a divorce. Roger and Barb re-connected at a dinner hosted by a mutual high school friend. They picked up on the mutual attraction they had had at high school. It wasn’t long before they were spending most of their time together and holidaying together. Both their adult kids were fine with it and pleased that their parents were now happy with their new partners. Roger and Barb agreed that it would be sensible for Barb to move into Roger’s apartment in Milford but they both agreed that they each had substantial assets that they each needed to protect. It was important to each of them that they protected the assets they had acquired, for their children.

Barb and Roger agreed to go and see Barb’s lawyer as she was an asset protection specialist. Barb’s lawyer congratulated them on addressing the potential issues early on. She said that too many couples either buried their heads in the sand, thought their children would be ok with what

Tammy McLeod

happened in the future or thought that their trusts would protect them.

She advised that while trusts were still amazing asset protection vehicles and would do a great job of helping with the transfer of assets to the next generation, Barb and Roger needed a comprehensive relationship property agreement. This sets out what their respective assets were, how they were held and what would happen in the event of not just separation, but also death.

As Barb and Roger talked, they realized that while they wanted each other to be comfortable during their lifetimes if one of them died, they wanted to balance that with making sure that their children were ok and were able to get ahead in tough financial times. They also wanted to ensure that there were no fights within