Many of us know or come from blended families. We have had numerous clients come to us for legal advice on how best to plan their estate, with a special concern about this matter. These situations can be very complex, depending on how each family's dynamic. Either spouse may have children from different marriages, which can make some delicate issues concerning inheritances rather difficult to handle. Blended families face challenges that differ from other families in almost every aspect, and estate planning is certainly one of those unique cases.
How Can I Avoid Any Potential Issues?
Your children are your descendants. They are your beneficiaries and your inheritors. Any wealth, properties, assets accumulated during your lifetime can be passed down to them through careful planning of your estate. Now, this can become tricky when you enter another marriage. You will have to think how best to divide the finances, real estate, and other assets carefully.
We recommend the following when considering your estate planning:
- Be fair to every single child, biological or not
- Create a trust fund to lessen the likelihood of quarrels between your children
- Make sure that all of your documents are updated and reflect your current family situation
- Be clear about your wishes with regards to medical bills, funeral costs, and other last wishes
Without proper planning, you could run into several snags along the way. Take, for example, if you have mistakenly left out one of the children in your plan. A small mistake such as this can have detrimental consequences to the outcome of your estate. Furthermore, the distribution of inheritances would be subject to state laws and even be subject to probate.
Get Sound Legal Advice from Our Attorneys!
We at The Virdone Law Firm, P.C. are committed to providing our clients with only the highest quality legal services. Together, we possess more than 20 years of legal experience and have a
rating of Superb on Avvo. We are formidable counselors in the area of
elder law, who provide counsel for a variety of issues concerning
Contact our Nassau County elder law lawyers to discuss your estate planning case today!