Balancing the needs of a multi-generational blended family with your own wishes can be a complicated task, especially when it comes to estate planning. With many Americans not only marrying once, but twice, three or even four times during their lives, it is a challenge that will come to many.
Even when blended family members get along, estate planning can be complicated. The potential for acrimony among family members can be so great that some people choose to avoid addressing the issue of who will inherit what altogether. However, as any estate planning attorney will tell you, having no plan is not a good plan.
Overall, an effective estate plan for a blended family will ensure that:
- Any ex-spouses do not inherit;
- Your own children are protected;
- Your current spouse is provided for;
- Any estate taxes are minimized.
Because estate plans are as individualistic as the families they cover, it is always advisable to consult with an expert before finalizing your plan. Although there are a plethora of online resources and books on the subject, estate planning for the blended family does not make a good do-it-yourself project.
Your personal Legacy Counsel attorney can provide you with the individual attention you need to create an estate plan customized for your blended family. If you’d like to learn more about estate planning for blended families, call our office today to schedule a time for us to sit down and talk.
This article is a service of Legacy Counsel PLC. We don’t just draft documents; we ensure that you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Legacy Planning Session, during which you will get more financially organized than you’ve ever been before and become empowered to make all the best choices for the people you love. You can begin by calling our office today to schedule a Legacy Planning Session. Mention this article to find out how to get this $750 session at no charge.
This article is a service of Legacy Counsel PLC, an estate planning law firm in Saint Joseph, Michigan.
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