ESTATE PLANNING FOR BLENDED FAMILIES
With the rise of divorce and remarriage in our society, blended families are more common than ever. Television shows like The Brady Bunch and Modern Family give a light-hearted look at blended families. But, in real life, blended families face unique estate planning challenges.
Lack of Planning Leads to Accidental Disinheritance
When people join together in matrimony, they usually title their property jointly also. They often name each other beneficiaries on financial accounts, retirement accounts, and insurance policies. Both of these strategies, while common and often recommended, can lead to children from previous marriages being accidentally disinherited.
Keep in mind that a surviving spouse who receives 100% of the assets of the deceased spouse is under no obligation to share the assets with the decedent’s children. Those children, then, completely lose the inheritance their parents may have wanted them to receive.
And what if the surviving spouse remarries? The new spouse may become entitled to the assets of the deceased spouse. Again, children from the deceased spouse receive nothing.
Careful estate planning can prevent accidental disinheritance.
When the Ex-Spouse Enters the Picture
The situation becomes more complex when a blended family contains minor children.
Let’s say a husband passes away, leaving two children. As minors, they need a conservator to manage their inheritance. The court-appointed conservator could very well be someone you did not choose. Your ex-spouse, as their surviving parent, is the most likely candidate! And if the children pass away? The person inheriting their estates likely would be your ex-spouse.
Estate planning can protect everything you have for everyone you love.
Fortunately, none of these scenarios has to happen. With proper estate planning, you can avoid unintended consequences while protecting your loved ones. At Miller Estate and Elder Law, we make it our business to help clients like you make thoughtful, informed decisions about their estate planning.
To learn more, attend one of our FREE estate planning workshops. Please call 256-472-1900 to register for a workshop or to schedule an initial consultation. You may also request an appointment through our website.
We have offices in Anniston, but also serve clients in Gadsden, Hoover, Talladega, Vestavia Hills, and surrounding areas.
“We started with a group of lawyers and helpers and ended with new friends! Everyone was so nice and friendly, even outside the office, and you always knew us by name. You were very professional, helpful with all questions and you put things on a human level.”
Wendell & Martha
“I am very satisfied and optimistic about what will happen to my children and my assets after my death.
“We expected a complete estate established that protects our assets and we received that protection. Your firm did an excellent job!”
“Bill and Mary were very much people persons. Your firm is competent as well as personable.”
Charles & Susie
“Working with you (Miller Estate and Elder Law) has been a pleasant experience.”
Chris & Dot
“I got a firm that was caring, understanding and knowledgeable. No one can beat Miller Estate and Elder Law Attorneys!!”
818 Leighton Ave.
Anniston, AL 36207
100 Perimeter Park S Suite 100 N
A decision on legal services is important, and should not be based solely on advertisement.
No representation is made that the quality of the legal services to be performed is greater than the quality of the legal services performed by other lawyers.
Please be aware that sending an e-mail to Miller Estate and Elder Law, does not create an attorney-client relationship and that you