As a child, I grew up watching Leave It to Beaver with Ward and June Cleaver, Wally, Theodore (the Beaver) and Eddie Haskell. The estate planning goals and challenges for families like the Cleavers are often less complex than those of the blended family today. More often, all assets are left to the surviving spouse with few, if any, restrictions.
There was little or no concern that Ward or June would disinherit the children after the first spouse’s death. At the death of the surviving spouse, the kids (Wally and Theodore) would receive their respective shares of the trust estate, perhaps at appropriate ages when they were financially mature enough to manage the wealth. There was little concern then about long-term divorce or asset protection.
