Estate Planning Tips for Blended Families

ESTATE PLANNING FOR BLENDED FAMILIES: KEY TIPS TO PROTECT EVERYONE YOU LOVE

Estate planning is rarely simple, but it can be especially challenging for blended families. If you are remarried, have stepchildren, or children from a previous relationship, it is important to have a plan that protects everyone you care about. Without a clear plan, loved ones may be unintentionally left out or end up in conflict. As your estate planning attorney, I am here to share essential tips for blended families so you can secure your legacy and give your family peace of mind.

KNOW YOUR FAMILY STRUCTURE AND SET GOALS

Start by understanding your unique family situation and setting clear goals. Do you have children from a previous marriage? Does your spouse have children of their own? Are there children you share together? These family details matter when deciding who should receive what.

It is important for both spouses to talk openly about their wishes. Some may want to leave everything to a surviving spouse, while others may want certain assets to go directly to their children. By discussing your family structure and your goals, you can create a plan that is fair and clear for everyone. Your attorney will need this information to help you prepare for the future.

CREATE A WILL

Many people assume that if they pass away, their assets will simply go to their spouse. However, in Texas, if someone does not have a will and has children from a different relationship, part of their separate personal property and half of any community property will go to those children—not to the spouse.
This is why having a will is so important. A will ensures your spouse is provided for and your assets are given according to your wishes.

USE TRUSTS TO PROTECT BOTH SIDES

For blended families, a basic will might not be enough. One problem is that after one spouse dies, the surviving spouse can change their own will and leave out stepchildren. A spousal trust inside your will can prevent this. This trust holds assets for the surviving spouse’s benefit, but after their death, those assets pass on to the children you choose. This helps provide for both sides of the family.

If one spouse has a large retirement account, they can set up a trust to receive those retirement benefits. This special retirement trust pays required distributions to the surviving spouse, and when that spouse passes, the rest goes to the children you have named. This protects your wishes, even if your spouse’s wishes change later.

J NICHOLS LAW, PLLC, CAN HELP YOU PLAN FOR YOUR FAMILY’S FUTURE

Every blended family deserves an estate plan that fits their unique needs. Having a knowledgeable attorney on your side makes it easier and more effective. Contact J Nichols Law, PLLC today to discuss your options and make a plan that protects the people you love.