Family Estate Planning Attorney in Ketchum, Idaho
What are some of the challenges of estate planning for blended families?
What are some of the challenges of estate planning for blended families?
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00:04
the primary challenge
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of planning for blended families is
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exactly doing that planning for it and
00:12
thinking about the relationship
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the best relationships for blended
00:15
families are ones that are not
00:17
tied to each other financially let a
00:20
step
00:20
parent and a step child have their
00:23
relationship
00:24
free of ties to
00:27
finances meaning that oftentimes in in
00:30
planning for spouses you’ll leave one
00:33
will leave assets and trust for a spouse
00:36
and at the death of that spouse it’ll
00:37
pass to the
00:39
first spouse that died their kids now
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you end up with
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step children waiting for their step
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parent to die to get their
00:46
inheritance that’s not a great
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relationship basis
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so if there’s ways through other
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vehicles either passing an asset
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life insurance retirement accounts
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there’s various ways to
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bifurcate the financial relationship
00:59
between first family kids
01:01
and a second second or third spouse
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it’s always preferable blended families
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can happen unintentionally it can be a
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long term first family marriage
01:12
that ends in the death of a spouse and
01:14
the surviving spouse remarries
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and that ends up being a blended family
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when it really wasn’t expected
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again the goal is to bifurcate the first
01:24
family children
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from the step parents so that they could
01:27
have a relationship that’s not
01:28
financially tied
01:30
to one another
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Los Angeles, CA Estate Planning & Probate lawyer Jill Eshman explains the primary challenge of estate planning for blended families.
