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Will your blended family members dispute your estate plan?

On Behalf of | Jun 13, 2020 | Firm News |

You want to ensure that your estate plan provides for those you love, but having a blended family can complicate matters.

Here are six tips designed to limit the potential for conflict over your estate plan after you are gone.

1. Establish a trust

Perhaps you have remarried and have biological children as well as stepchildren to consider. You can establish a trust that provides for your spouse during his or her lifetime and ensures that assets will pass on to the children as you direct after your spouse dies.

2. Choose a capable trustee

Choose a trustee you can depend on to make the proper financial decisions concerning investments and other means of managing the assets in your estate. This will be a major responsibility until such time as he or she can distribute the assets to your beneficiaries. Your trustee should also be capable of dealing with the questions or concerns of your heirs.

3. Consider who makes health care decisions

Take care in choosing the person who will make health care decisions on your behalf. You might have to make a choice between your current spouse and a biological son or daughter, and the wrong decision could lead to family discord.

4. Designate assets

Think about leaving certain specific assets to your biological children following your demise. This way, they will not have to depend on their stepparent or wait for his or her death to receive the inheritance you wanted them to have.

5. Anticipate a remarriage

Consider the possibility that your current spouse might remarry at some point after your death. A trust will provide protection for your assets in the event that should happen.

6. Make updates

If you already have an estate plan, it might be due for an update. This is the time to take action in order to protect the members of your blended family and limit the possibility for disputes once you are gone.