Blended families are very common in the 21st century. A blended family consists of a mixture of people related by blood, marriage, second or third marriages, adoption, same sex marriages, and unmarried couples with or without children. If navigated with sense and compassion they can be very rewarding.
However, the more complicated your family, the more complicated your finances. How do you best ensure your family’s legacy and financial security in the event of something happening to you?
Will Writing and Estate Planning For Blended Families
The best way to protect your family is to make sure you have a will in place. It must be a carefully considered and meticulously detailed will to ensure ALL your family members are provided for in the way YOU choose.
Jane, our fully qualified will writer, can help you navigate the process of dividing your wealth and assets however you want. This includes all or some of your biological and stepchildren; as well as spouses, ex-spouses, siblings, step-siblings, parents and step-parents. Estate planning can seem daunting at first glance, especially in large blended families. It involves careful planning of each inheritance, and the nominating of guardians for minors, etc. You can rely on us to help you choose an executor for your estate.
Don’t let writing a will give you sleepless nights, though! Educating yourself and taking things step by step can take a whole lot of stress away from something so vital.
Brighton Wills are compassionate will and estate planners who can guide you through the process in the comfort of your own home.
Even in its simplest format, will writing is something that most people don’t really want to think about at all. A step-by-step estate planning approach can take the hassle out of the entire process. It will also help your blended family avoid lengthy complicated probate court procedures and expensive troublesome legal issues during their time of emotional upheaval.
Having decided to take the plunge, what are the main things you should take into account when writing your will or planning your estate for your blended family?
Here are some common questions blended families have that our expert will writer, Jane Amos, is asked and is prepared to help you with.
How do I decide who should inherit what in my blended family?
“Who gets what” is a question that can be fraught with a lot of emotional baggage! In a blended family, decisions may seem overwhelmingly complex. Parents will want to take special care in dividing up their assets and funds amongst their children.
It’s not uncommon for spouses to leave their entire estate to their partner. In a remarriage where there are children from previous relationships, what would happen if one spouse were to die before the other? In a blended family, you should ensure each of the children receives their inheritance. Potential unfair treatment or disagreements can be mitigated at worst or prevented entirely at best if a trust and trustee/s are set up.
Your legacy, your will, YOUR choices. Jane at Brighton Wills is ready to help you with the process. Contact us now for a consultation.
If I get remarried, should I make a new will?
You should absolutely revisit your estate planning after a divorce or a remarriage, especially when new children and stepchildren are involved. Naturally you want to ensure your children are taken care of and that your beneficiary wishes are followed. In some cases, you may need to revoke the planning you made and documents you drew up while with a former spouse.
What else should I know about planning my estate for my blended family?
One of the first things to think about when will writing or estate planning for a blended family is to be as detailed and thorough as possible. Book the time to discuss will matters with your spouse. You’ll be able to ensure each child is properly taken care of in your will. There are various options that will allow you to offer proper financial support to your children after your death. We are ready and waiting to help you identify issues, avoid legal pitfalls and write the will you deem the fairest and best for your blended family.
It’s natural for life to get in the way of these sorts of tasks, but if your will is written to safeguard your loved ones, you’ll have peace of mind about the future.
