Today’s families have become a bit more complex than they used to be. Traditionally, it includes the husband, wife, and children. However, recently, people have married multiple people in their lifetime, which has brought about the word “blended family,” which sounds intriguing. The term “blended family” implies a family unit where the husband or the wife has had children from his or her previous marriage, which could be from both previous marriages.
Reasons for such could include the partner’s death or divorce in the previous marriage. Special attention is paid to blended families because of the conflicts of interest that arise from the different survivors of the deceased. Especially if there has been a bit of tension over the marriage itself, it’s a deeply intertwined form of connection.
As it happens that a parent gets married later in life to another who has a family of their own, when such parents pass away, there is a fat chance that the estate goes to the new spouse as directed by the court if there isn’t adequate estate planning. This is why it is necessary to contact the estate planning services Marietta to get family and financial estate planning advice before entering into a blended family situation. It can alleviate your concerns and enable you to freely pursue your interest in rearing a new family. Estate planning must be fair to the new spouse and the children. There are several things to consider, and they include the following;
- Consider that death is unpredictable and could be you passing on first or your new spouse. You both must protect your legacies and make plans on each side to ensure a befitting outcome and not have both inheritances end up with the wrong set of people. Discuss how you both intend to provide for your children after you pass. Make plans on your goals for your estate plan, if you have any support obligations to your exes, and the assets you are bringing to the marriage.
- Whichever estate planning service in Marietta you would be consulting with, ensure they have enough experience in helping the blended family solve this matter. It requires a vast attorney to use techniques such as trust to ensure all family members are well taken care of. Trust enables the distribution of assets to whom and for what purpose, to be more specific.
- Ensuring your estate planning documents, beneficiary forms for financial accounts, and insurance policies are up to date and reviewed. Most importantly, you are not letting funds go to your ex-wife or husband because you forgot the policies and never updated them. In addition, you can review all previous wills, support agreements, and settlements with an attorney to affirm any commitments you need to consider.
- Have a heart-to-heart talk with your family on heirlooms that are more personal to you. Then, you can make it known in your estate plan, stating which particular family member should be a beneficiary of peculiar items.
- Consider who you want to provide for and how you intend to go about it. It’s necessary to think carefully about whether you want to leave all of your assets and possession to your children, spouse, or every member of your blended family. The decision is yours to make.
Families get heartbroken with decisions made by the court on their behalf, as the unavailability of a well-drafted will would make the state the provider of an estate plan, leading to resentment among the surviving spouse and offspring. Therefore, to avoid such an unwarranted situation, which can be prevented through estate planning.
Family estate planning is essential and requires a unique approach as your family is unique to you. Decision-making requires the help of experienced and thoughtful professionals. An attorney at Kirkland estate planning services, Marietta, can be sure to help have a closer look at your different options and what implications each option might have on your dearest family.