Estate Planning Tips Blended Families

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Estate planning tips blended families.

6 estate planning tips for blended families. Premarital and marital agreements. If so you need to. 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.

Here are some strategies that blended families can use. Married people commonly leave everything to each other in their wills. Estate planning is especially important for unmarried couples and blended families. Each bringing 3 children into the marriage and raising them as one big happy family.

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. Depending on a family s situation and needs an estate planning attorney can help select and execute one of the following strategies. 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. The key to minimizing these issues is a well thought out estate plan.

Estate planning for blended families. Estate planning for blended families is a form of asset protection. Typically spouses in a first marriage own assets jointly and distribute assets upon death to the surviving spouse and then to the children equally. With guidance from experienced counsel the various goals of each family can be met by crafting and implementing estate.

Brett millard may 25 2020 6 00 am story. I wonder what their estate planning looked like. Do you have a blended family. Estate planning tips for blended families avoid ill will after death.

Not only are the financial issues of blended families more complex but the emotional issues around those decisions are much more of a challenge to navigate. Setting up a trust. 4 tips on getting it right.