Many of us have heard that the divorce rate for first-time marriages hovers at around 50 percent. While there are fluctuations, peaks and valleys in the number of divorces from year to year, this sobering statistic is essentially true. The divorce rate for subsequent marriages is even higher, with as many as 75 percent of all third (or higher) marriages ending.
It is widely assumed that only the wealthy need to do estate planning. Part of our goal in our Torrance blog is to battle that erroneous assumption. Part of tearing down mistaken suppositions is spreading information about how basic elements of estate planning can help virtually everyone.