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Monthly Archives: August 2015

Estate Planning for the Blended Family

Preparing a will and estate plan for a blended family can be complicated, and strain family relations. These days, many families include children, stepchildren, former spouses and in-laws. The number of remarriages has been steadily rising over the past few decades. By some accounts, in 2013, 40 percent of marriages included at least one spouse who had previously been married, and in 20 percent of remarriages, both spouses had previously been married. Such situations require estate planning with clearly understood goals. The biggest issue in blended families is typically, “where will my money go when I die?” In many cases, remarried couples want to ensure that the surviving spouse will be appropriately cared for upon the death of their partner—with the children from their previous marriages becoming the ultimate beneficiaries of the assets their parents brought to the marriage.  The challenge comes from designing a plan that will keep all

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