Do Blended Families Need Different Estate Planning Options?

If you are on your second or third marriage and you have any form of blended family, you need to make estate planning and regular updates to it a top priority. Far too many people neglect this step and then end up in entangled arguments and put their loved ones in position for nothing but confusion.

Unique estate planning needs apply to blended families, which is why it is more important than ever to speak with a knowledgeable attorney.

Writing a will and using tools such as trusts are extremely important for blended families. A robust estate plan ensures that your wishes are carried out and that every party that you intend to receive something gets their fair share. There are three primary areas to think about when it comes to blended family estate planning.

These include legal guardianship, how you will choose to pass on assets to minor children and dividing your estate among remaining family members. If you pass away with no will, the child’s other parent will typically get full custody. If you want your child to remain with your current spouse or if you and your former partner are estranged, you should make this clear in your will. There are many other different types of issues that could be addressed in your estate planning documents and a consultation with a lawyer can help to illuminate you about some of the most common pitfalls and challenges faced when establishing an estate plan.