Estate Planning Is Especially Important With A Blended Family
Many families today do not fit the “traditional” model. Divorce, remarriage and step-relations are increasingly the norm. And while there’s absolutely nothing wrong with changing conventions, blended families can create challenges from an estate planning standpoint.
Thankfully, working with the right attorney can help you ensure that your loved ones are provided for, that no one is accidentally left out and that your estate plan accurately reflects your wishes. In Cuyahoga Falls and surrounding areas of Ohio, you can find the estate planning help you’re looking for at Legacy Law Firm, LLC.
Make Sure To Review And Update Your Estate Plan After Major Life Changes
If you’ve already created a will/estate plan, chances are good that it will need to be amended over time. One of the biggest mistakes people make is failing to update their estate plan after a major life change like divorce, remarriage or the birth or death of a family member.
After going through one of these major life events, consider making an appointment with our firm to review your estate plan and make any necessary changes. We can help you anticipate and prevent common problems, update beneficiaries and more – even if the documents were created by another firm.
Name Your Children (And Stepchildren) As Heirs And Beneficiaries
If you have gotten remarried but have children from a previous relationship, it can be risky to simply leave everything to your spouse and trust that they will pass along assets accordingly. Family relationships can change over time and estrangement is more common than you might think. You also need to consider the possibility that your spouse will remarry, further complicating estate assets.
To ensure that your children and stepchildren inherit assets you intended to leave to them, include them as named heirs in your will. You can also set up trusts specifically for them. An additional benefit to this approach is that your heirs will not need to wait until the other parent dies to inherit assets.
Be Very Intentional About Your Healthcare Decision-Making
Most estate plans include a living will that states your wishes for end-of-life medical care. You can also designate healthcare power of attorney in case you become incapacitated and need someone to make and communicate important decisions about your healthcare.
If you have a blended family, these documents should be through and clear, and you should choose your decision maker carefully. Will it be your spouse or one of your children? The last thing you want to happen is that disagreements about your medical treatment cause a large rift between the people you love.
Ready To Create Or Review Your Plan? Speak To An Experienced Lawyer For Free.
The topics discussed above are just a few of the many estate planning issues that could arise with a blended family. Legacy Law Firm, LLC, offers skilled and knowledgeable services and representation in all aspects of elder law and estate law. To learn how we can help you solve these problems and more, contact us to schedule a free initial consultation. You can reach out online or call 330-529-7070.