When a parent gets remarried there is likely to be tension between the new spouse and the children from previous relationships. Much of that tension can be eased by ensuring the family finances are properly handled.
On television and in movies blended families tend to be shown in one of two extremes. They are either portrayed as naturally harmonious with everyone getting along or they are portrayed as constantly fighting with children and step-parents always at odds.
The reality is usually somewhere in between.
Blended families usually do have some tensions, but by properly managing the current and future finances much of that tension can be alleviated.
Recently, Advisor.ca offered some advice about ways to do that in “Five ways to navigate blended-family finances,” including:
Whatever you do, seek the counsel of a qualified estate planning attorney.
Reference: Advisor.ca (Aug. 3, 2016) “Five ways to navigate blended-family finances,”
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