Erin - I continue to be appreciative of your opinions and suggestions, and yet more questions…
I would like to create a trust that ONLY has my 2 children (each one 50/50) as 100% beneficiaries and explicitly exclude my wife. During the remaining 9 months of our 12 month separation, am I required to have my wife listed as 50% beneficiary since we are not officially divorced yet? I have heard differing opinions on the recognition of being separated vs divorced, what is yours?
I would like to change the beneficiary on my recently acquired term life insurance policy to the trust, change my pre-marital bank accounts to the trust and pre-marital property titles into the trust. Are there any problems or concerns that this may bring to our ED and/or CS? (FYI - We are skipping alimony & PSS - due to her affair and my current unemployment status.)
I assume all joint accounts (IRA, 401K, check, savings) accounts will be required to remain in trust that has my wife listed as 50% beneficiary until ED is completed. Is this correct or is there other options I should consider?