Estate Planning Strategies For Blended Families

Disputing an unfair estate.

Estate planning strategies for blended families.

It is important to consult an estate planning lawyer to ensure that your will accurately reflects your wishes. Estate planning for blended families is a form of asset protection. Successful blended family estate planning is a matter of setting and communicating goals learning the available legal strategies implement ing the chosen documents and setting appropriate expec tations for the client. The modern family is more complicated and may consist of parents who are in second or third relationships.

If you pass away first your spouse will own all your property outright. According to recent census data less than half of american children grow up in a traditional nuclear family. Apart from the day to day challenges blended families like the fictional brady s face additional hurdles when addressing their estate planning. Here are some strategies that blended families can use.

Setting up a trust. Married people commonly leave everything to each other in their wills. Here are a few estate planning strategies that can be used to ensure that your children will receive their inheritance when you are part of a blended family. 1 instead children are being raised in an increasingly diverse backdrop of household types and family dynamics.

Estate planning strategies for blended families the average american family looks quite different today compared to years past. Depending on a family s situation and needs an estate planning attorney can help select and execute one of the following strategies. The key to minimizing these issues is a well thought out estate plan. People with blended families should pro actively plan the distribution of their estate.

It is estimated that more than half of u s. Estate planning for blended families second marriage and step children require special planning to ensure your spouse and your children are protected. The most common estate planning solution is to put your spouse s inheritance in a trust for their lifetime use but then indicate that the remaining assets will pass to your children.