Bruce Willis, 57, and his wife Emma Heming, 33 welcomed their new baby girl this weekend after being married for three years. Mabel Ray Willis is the Bruce’ s fourth child and Emma’s first. Willis has three more daughters from his 13-year marriage to first wife Demi Moore.
Willis has experienced substantial life changes that he should account for in his estate planning. After all, one day he might just “Die Hard.” Protecting his new wife and baby should be high on his priority list.
With Willis’s divorce from Demi Moore in 2000, new marriage to Emma Heming in 2009, and the recent birth of his new baby, Bruce should consider updating his estate plan if he has not already done so.
Bruce should begin his estate plan modifications by revising his will. He should reconsider his asset distribution and personal representative appointment. He should include Mabel Ray in his will otherwise he could unintentionally disinherit her. He can rewrite the terms of his will or execute a special addendum called a “codicil.”
If his estate is more trust–based, he should review the terms of any trusts established before or during his marriage to determine what changes will be necessary in order to include Emma and baby Mabel. He might want to add them as beneficiaries of his estate. He might want to exclude Demi from his life insurance and make sure the new women in his life will be the recipients of his death benefits.
Updating your estate plan is crucial especially after major changes in life such as divorce, marriage, and birth of a new child. It is of vital importance to take prompt, proactive measures and visit your South Florida estate planning attorney to ensure your intentions are fully carried out in the disposition of your assets.
For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at firstname.lastname@example.org to schedule your free consultation.
It’s a Wild world. Are you protected?