Having a comprehensive, well-communicated estate plan does more than distribute your assets smoothly.
There are many types of families in modern society, and blended families are one of the most common. In this case, one or both partners bring children from previous relationships into the marriage. According to Smart Stepfamilies and the Pew Research Center, 42 percent of adults in the United States have a step-relationship, and 16 percent of children live in blended families. Additionally, approximately 1,300 new stepfamilies are formed daily in the United States.
Although blended families offer love and connection, estate planning can be particularly challenging. In the absence of a well-crafted legacy plan, your loved ones could unintentionally feel tension, confusion, or even become embroiled in legal battles with one another.
