New York Estate Planning for Blended Families
In today’s world the concept of his, mine, and ours, is more relevant than ever. Many also enter into second marriages later in life. Planning for blended families allows you to protect your spouse without having to worry if your assets will ultimately get to your children. Planning for blended families enables you to protect the spouse after death but also ensure the spouse does not utilize the funds for their children to the exclusion of yours, for a new spouse or significant other they may meet. You may also find your assets at risk if your spouse enters a nursing home or gets sued. Proper planning ensures you do not lose your assets to your second spouse’s nursing home expenses or lawsuits.
Estate Planning Strategies for Step-Families
Another concern when planning for blended families is what happens when one of you dies. While family harmony is presumed, it is highly likely after the death of the first spouse; the step-family can easily become the “out of step” family. Unfortunately, it’s usually not rational, because emotions run high. If you’re in a blended family be sure you get the planning in place to avoid the many challenges that occur. Let us show you how simple it can be to protect the people you care most about and to avoid family strife.