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Home >> Estate Planning for the Blended Family

Estate Planning for the Blended Family

August 3, 2011 by Robert Kulas. Leave a Comment

There can be a lot of joy and excitement in a second marriage. There can also be a lot of angst about bringing two families with children together. Sometimes it goes very well, while it can be very challenging at other times. Aside from the logistics of blending a family, there are estate planning issues that also need to be addressed early to avoid confusion and conflict down the road.

When you blend a family, it is typically because two people have been married before and had their own children. They may get married to each other and have additional kids together as well, further complicating the estate planning process. There are usually assets that each partner had before the marriage, and then there are assets accumulated during the marriage also. As you can see, there is a lot to think about when it comes to planning an estate like this.

When planning your estate, here are some things to consider:

  • Who do you want to have your personal belongings such as jewelry and family mementos?
  • Who will get your assets such as investments, insurance, brokerage accounts, etc.?
  • Take time with your new spouse to sit down and have an honest conversation about what each of you wants.
  • How will you make sure that your children are cared for in the event that you pass away?

 

These are just a few of the questions and ideas you need to consider when planning your estate in a blended family. While you may be very close to your step children, you likely want to leave personal items to your own kids. This can be a tricky situation unless it is handled properly. The last thing you want to do is cause marital strife or conflict within your new family. An estate planning attorney can help you navigate these tricky waters so that you are not left feeling uncomfortable about your decisions.

Filed Under: asset protection, Blended Families, Estate Planning Tagged With: blended family, Estate Planning

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Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family.

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"Everyone treated us extremely well.  Robert explained how a trust works and the benefits of having one.  We decided to move forward and complete the process.  He was very kind and knowledgeable.  Julie was also very helpful and very patient with our questions.  We felt very comfortable with this firm handling our affairs.  We would highly recommend this firm to our friends and family."

Janice M
Client Review
August 25, 2020
    

Robert Kulas and staff made making a will an easy to understand process. They were very knowledgeable and attentive to my wishes. All my documents were provided in an organized binder which will be a great asset to my family. I would definitely recommend them.

Krissy L.
Client Review
August 25, 2020
    

I have worked with Mr. Kulas & staff before. And they are very professional. I am very satisfied with Mr. Kulas and his staff and give them the highest satisfaction and 5 star rating.

Leo C.
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August 25, 2020
    

Mr. Kulas and his staff have been extremely helpful & knowledgeable for the over 3 years we have been associated. They are easy to talk to and explain everything without feeling rushed. Very competent and professional.

Mildred W.
Client Review
August 25, 2020
    

I have known Robert Kulas for 20 years since I was co-executor for friends who had Mr. Kulas prepare a Trust for them. When I felt I needed a trust also, I came to him. I have always been completed satisfied with his work and that of his charming, competent staff.

Joan C.
Client Review
August 25, 2020
    

We began our estate plan process in 2004 (12 years ago) and have been pleased with the periodic reviews we have gone through and when changes have been needed the firm has been thorough and professional in making those changes.

L.G.K.
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