Estate Planning For Blended Families

Barnes richard e.

Estate planning for blended families.

Writing a will isn t exactly the most fun but it s important. Estate planning for blended families is a form of asset protection. Estate planning for blended families. In addition one in eight couple families with children are now considered blended among the many challenges blended families face one area that can be particularly tricky is estate planning which has the potential to create mistrust and discord among family members if not handled properly.

I wonder what their estate planning looked like. Estate planning for blended families second marriage and step children require special planning to ensure your spouse and your children are protected. Mike and carol brady were the iconic blended family each bringing 3 children into the marriage and raising them as one big happy family. Estate planning for blended families is the first book for parents in second marriages who want to provide both for their current spouse and their children from the current and prior marriages.

Author richard barnes has years of experience guiding couples through the process of setting goals discussing competing priorities and choosing. In estate planning for blended families. Depending on a family s situation and needs an estate planning attorney can help select and execute one of the following strategies. By judy martel when it comes to estate planning for a blended family the concept of yours mine and ours can complicate the process to the point that family dynamics become permanently strained.

Typically spouses in a first marriage own assets jointly and distribute assets upon death to the surviving spouse and then to the children equally. Balancing your planning for spouses children and stepchildren in estate planning for blended families. Dan murphy a financial planner at greater good financial has three children from a previous marriage and one with his current wife although everyone is on good terms he recognizes that anything can happen. This is particularly true for blended families.

Estate planning tips for blended families spouses in a first marriage generally have estate planning goals that are aligned because most of the time there are no children from prior relationships. Barnes richard e. These agreements should address. Gives advices and focuses on techniques of estate.

Estate planning for blended families outlines estate planning specifically for blended families addressing the special concerns and issues that may arise from the process in this very special of circumstances.