When you have children from multiple spouses or stepchildren, estate planning can be especially difficult. It is not always easy to make everyone happy with their inheritance.
In the United States today people often divorce and get remarried. When The Brady Bunch first aired, part of its appeal was the novelty of two families blending together. However, today that is normal for many American families. This creates special problems in estate planning because it is often difficult to know how to properly provide for a new spouse, children from a previous marriage, and even for stepchildren. A recent article in The Street, titled “6 Things to Consider When Estate planning for Your Second Family,” lists 6 things you should consider when planning your estate with a second family:
This last point cannot be emphasized too much. Just read through all of the “disclaimers” required by the online do-it-yourself legal document preparation services. Where will they be when your estate plan runs aground?
Reference: The Street (August 7, 2014) “6 Things to Consider When Estate planning for Your Second Family
Suggested Key Words:
Estate Planning, Blended Family
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