In today’s world, the distinction between his and mine is more relevant than ever. Many people enter into their second marriage later in life. Planning for a blended family protects your spouse’s share of assets without having to complicate the inheritance process with multiple children. Planning for blended families enables you to protect the spouse after death but also ensure that he/she does not utilize the funds for their children to your exclusion, or for a new spouse they may meet. You may also find your assets at risk if your spouse enters a nursing home or gets sued. Proper planning ensures you do not lose your assets to your second spouse’s nursing home expenses or lawsuits.
Strategies For Estate Planning For Step-Families
One of the most challenging aspects of blending families is what happens when one or both partners die. Many people presume that a family will always remain in harmony after the death of a spouse, but it is statistically more likely to become estranged. Unfortunately, feelings are intensified when a family is blended, and planning ahead can reduce the many challenges that may surface. When you are ready to protect your loved ones and avoid family strife, let us show you how simple it can be.