Cindy and Nate were recently married, each for the second time. Both are concerned about leaving assets to the adult children from their previous marriages and are reluctant to combine their individual assets. Together, they have an estate valued at $1 million, of which $750 000 is in Cindy’s name. They live in Cindy’s $300 000 home, which she received in her divorce settlement. 

Planning for incapacitation is another concern. Cindy’s 86-year-old mother and 84-year-old uncle both have Alzheimer’s disease, and Cindy is concerned that it may be hereditary. Nate recently lost his father to a long-term illness and has vowed never to be kept alive only by machines. Cindy, on the other hand, believes all steps should be taken to prolong a person’s life. Neither Cindy nor Nate has revised their wills since their marriage. The wills still name their previous spouses as executor and beneficiary of their respective estates. What type of trust is appropriate for Cindy and Nate? What can they do to address their concerns about estate planning in the event of incapacitation? Should the couple revise their wills? If so, what changes should they make?