ESTATE PLANNING FOR BLENDED FAMILIES
Blended families can create challenges when setting up your estate plan. Find our useful information below to help, or schedule an appointment with one of our estate planning attorneys today.
Estate Planning for Blended Families
Having a blended family can be joyous and special, but it can also present a few unique challenges — especially when it comes to estate planning for blended families.
Choosing who will receive your assets after you die may not be very straightforward when you live in a blended family. Additionally, if you still share ownership of assets with a former spouse, the process can get even more complicated.
As a result, speaking with a professional estate planning attorney is essential to help you navigate this complicated process effectively. At The TGQ Law Firm, we have extensive experience with estate planning for blended families throughout Michigan.
Things To Consider
Estate plans consist of several documents and plans that dictate your wishes about important matters in your life and family. However, when you have a blended family, you may need to put more care and consideration into these plans to ensure they reflect your unique circumstances.
For example, if you have children with more than one partner, you need to consider the best plans for those children should you and their other parent pass away. You also need to consider who will make decisions for you if you become incapacitated: your current spouse, a child from a previous marriage, or someone else.
Estate planning for blended families should include all of the following:
- Guardianship arrangements: Documents detailing who will be responsible for your children if you and their other parent die before they turn 18
- Property distribution: Information about who should receive your assets and property when you pass away
- Power of attorney: Forms that give another person authority to make decisions about your finances or healthcare on your behalf
- Living will: Details about the medical treatments and healthcare you would and would not like to receive if you become permanently unconscious
A Michigan estate planning attorney can help you create plans that reflect your wishes while keeping your unique family situation in mind.
CALL TODAY (734) 707-3232
Blended Family Wills & Trusts
Determining who will receive your assets and property after your death can be challenging when you have a blended family. In the past, our clients from blended families have faced the following challenges while considering wills and trusts:
- They want to distribute all of their assets equally between their biological and stepchildren.
- They want their assets to go to their children from a previous marriage instead of their current spouse.
- They want to pass their assets to their spouse after they die, then for their spouse to pass them to their children after their spouse is gone.
- They want to keep specific property separate from a new marital partner in their will.
Working with an experienced estate planning attorney is essential to ensure you structure your will and trusts accurately to reflect these unique wishes. For example, if you want total control over who receives what assets, you can consider creating trusts that designate specific assets for specific family members.
What Happens if You Don’t Have an Estate Plan?
If you do not have an estate plan in place when you pass away, your loved ones will need to go through probate court to distribute your assets. In probate court, the state will decide what happens to your belongings. This process can be incredibly stressful and emotional for your family.
Your family members would likely need assistance from an Ann Arbor probate attorney to navigate this process effectively. However, you can help your family avoid probate altogether by creating a detailed estate plan with the assistance of a knowledgeable attorney.
Your attorney can ensure you have all the necessary plans to distribute your assets according to your wishes after your death.
Michigan Estate Planning Attorney | The TGQ Law Firm
If you’re looking for an experienced Michigan estate planning attorney to assist with estate planning for blended families, you’ve found the answer here.
At The TGQ Law Firm, we have worked with blended families at every stage in the estate planning process. We can take the stress of organizing your plans for your estate off your shoulders and ensure they accurately reflect your wishes.
Contact us today at 734-707-3232, or fill out our online form, to schedule your 15-minute no-cost consultation with our estate planning attorney.
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During this 60-minute (one hour) in-person meeting we will review your situation, listen to your interests, and identify a satisfactory plan of action. We look forward to meeting you!
