When you have a mixture ofchildren and parents of various marriages and biological/legal relationships,you have whatâ€™s called a â€œblended family.â€ If your family is blended, becareful when planning your estate and make sure you understand the difficultiesat hand.
Granted, every family is unique.So it is with blended families. Some are created early in life and others areformed later. One or both spouses may be widowed or divorced, evenmultiple times with multiple â€œsetsâ€ of children from prior relationships. Asyou can see, the family dynamics alone can get complicated very quickly.
Who will inherit what, when willthey inherit and who will control the inheritance? When inheritance issues areadded to other family dynamics the situation can get volatile very quickly. ThePoughkeepsie Journal recently considered this topic in an article titled â€œPlan estate carefully for blended family.â€
As you might imagine, communication iskey. Blended families who are open and share at least the general contours oftheir estate plans have fewer problems. That noted, you know yourfamily members best. For example, which children or in-laws are most likely tobecome outlaws?
Adding provisions to your estate plan is one way to hindertroublemakers from challenging your wishes. Remember, estate planning is not a DIYproject, especially when it pertains to blended families. We have the experience you need to put your pan together. Like I always say, good planning is no accident.