Blended Families are a Special Blend
Over 95 million people in America are now a part of some sort of step-relationship. Being divorced and remarried is a common occurrence in our society, and with this comes the need for special planning to best protect assets. A blended family frequently has to contend with differences in opinions, challenges in dispersing assets, and determining how to ensure all children are treated as desired. Phelps Law, located in Gilbert and Scottsdale Arizona, understands the complexities involved with a blended family, and can help you navigate them to be certain your assets and loved ones are fully protected.
Why it’s Important
Blended families are a beautiful thing, but can come with a certain set of challenges. With more people involved, there is more opportunity for disagreements on how to care for the children, what child inheritances should look like, or how assets should be dispersed. While these can be difficult discussions to have, Phelps Law can help you navigate these situations with as much peace as possible. By asking the right questions now, you can save yourself and your loved ones from many headaches later in life.
How to Navigate
Naturally, you want to maintain the healthiest possible relationships between your family members now as well as after your death. Asking these questions will help you figure out what your vision is for the future of your loved ones.
- Who do you want to make decisions for you if you are unable?
- What do you want for your loved ones after you die?
- Who will care for your kids, and who will be the guardian over minor children?
- How do you want to include your current spouse in decision-making, and how do you want to provide for them?
- Do you have similar objectives as your present and former spouse?
- Are you able to have open planning conversations with your present and former spouse?
Starting with these questions can help you begin to build a pathway to the specific estate plan that will be the most beneficial for you and your loved ones.
Phelps Law knows how to balance the pressures of a blended family. Contact us today to set up an appointment and learn more about how to have a great estate plan that encompasses your blended family.
Images used under creative commons license – commercial use (10/3/2017) woodleywonderworks (Flickr)