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Blended Families Can Be Estate Planning Challenge

Posted by Nina Whitehurst | Mar 05, 2018 | 0 Comments

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Can you trust them? If you wonder, then you probably already have the answer.

Multiple relationships and fewer bonds can often lead to some challenges, when it comes to settling an estate, according to the Financial Times recently in an advice column "Should I trust my wife to divide my assets fairly?"

The column discussing a man who was on his second marriage wanted to make sure both of his children received an equal share of his estate. The children were each from a different marriage, so the man was concerned that his second wife might not leave the same amount of money to the child from his first marriage, if he left everything to her first.

The question almost begs the answer: well, if you must ask, then you have your answer.

That is not to say that stepparents can never be trusted to divide everything equally.  However, the real trust factor to be concerned about is not the trust between the husband and wife. The real concern should be the trust between the stepparent and the stepchild. The better they get along and trust each other, the more likely they will work together without fighting over an estate.

It is normally best not to leave things up to trust and there are many different options for making sure everyone in your family is appropriately taken care of, regardless whether they trust each other.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances.

Reference: Financial Times (Feb. 6, 2018) "Should I trust my wife to divide my assets fairly?"

About the Author

Nina Whitehurst

Attorney at Law Nina has been practicing law for over 30 years in the areas of estate planning, real estate and business law She is currently licensed in Alaska, Arizona, California, Colorado, Oregon and Tennessee. Her Martindale-Hubbell attorney rating is the highest achievable: 5 stars in peer...

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