Estate Planning for Blended Families
Estate Planning for Blended Families in Utah
Estate planning in general is a delicate balance of someone’s personal wishes and the laws of Utah and the Federal government. Planning becomes even more important when the natural beneficiaries of a client’s estate comprise of a second or even fifth spouse, and the respective children from each of the client’s marriages, as well as any children from the spouse’s previous marriage(s). Blended families are an adjustment for all children and spouses but with proper planning all of the possible estate planning concerns can be resolved with confidence. Proper planning provides for the opportunity to ensure that your family’s relationships maintain intact.
Second marriages provide opportunities for spouses to plan an estate plan that considers the desires and fears of both spouses, their separate children, and the children born into their marriage. When you discuss your family’s situation we will present you with various options ranging from the assets all going to the current spouse to the other extreme of all the assets going to the children. This will give you an opportunity to discuss what it exactly it is you want to accomplish with your plan and show how comprehensive and flexible estate planning can be.
Blended Families Attorney in Salt Lake City
We will also discuss the possibility of using a marital agreement to facilitate the estate plan in a blended family situation. Often times people think the easiest thing to do is to leave their property to their spouse through joint tenancy but often time’s contention arises between the surviving spouse and deceased’s children. Another problem arising from joint tenancy is that the surviving spouse will receive title to the property by operation of law no matter what the estate planning documents say. Put simply leaving all the property to the surviving spouse will often lead to the deceased’s children being disinherited. Most importantly proper planning will give peace of mind to the children of the previous marriage.
ANSWERING Estate Planning QUESTIONS for blended families IN SALT LAKE CITY, DRAPER, AND SOUTH JORDAN
Because of all these potential pitfalls an estate plan should be custom-built for you and it is important to do things correctly the first time around. Feel free to contact us to set up a free consultation or simply to ask some clarifying questions.