Blended Family Estate Planning

Estate planning for “blended” families is particularly important and can present unique considerations. Often, spouses who marry each other later in life or after having their own children, bring with them unique assets and expectations. Goals and plans for what happens with their money and their property and how children are cared for and/or treated can vary widely between spouses. To implement a plan (or plans) that match the desires and expectations of each spouse, particular care and expertise are required. In many instances, separate trusts can be utilized to keep certain assets segregated and to be sure that the right property gets to the right heirs/beneficiaries. Furthermore, documents like power of attorney must be carefully considered and prepared to ensure the types of protections (and outcomes) that are important to each spouse.