Blended Families Need to Consider Estate Planning

May 12, 2016

If you have recently remarried, there are unfortunately more opportunities for uneven distributions and disputes when you pass away. You need to carefully consider the inheritance you have set aside for anyone else as well as any beneficiaries you have named in your life insurance, trust, wills and retirement accounts.New Jersey estate planning

It is likely that after remarrying, you may still have your former spouse listed on these accounts. If you do have minor children you also need to think carefully about who needs to be their guardian in the event that you were to pass away. Some of the following questions you should consider when conducting your estate planning with a blended family include:

  • Does my current spouse or former spouse have the authority to make healthcare decisions for me if I were to become incapacitated?
  • Has my new spouse given me the authority to act on his or her behalf for financial and healthcare decisions?
  • Does my current spouse or former spouse have the ability to manage my financial assets if something happens to me?
  • Is my surviving spouse now listed as beneficiary on all accounts including trusts, wills and retirement?
  • Does my current estate plan outline that my current spouse will be cared for when I pass away and does it ensure that my children will receive any remaining benefits when he or she passes away?

Conducting your estate planning with a blended family is just as important as any other circumstance. Contact an experienced New Jersey estate planning attorney today to learn more.

 

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

How the New SALT Deduction Cap Could Trigger a Hidden Tax Spike—and How to Avoid It

Learn how the new SALT deduction cap in the One Big Beautiful Bill may create a tax torpedo for high-income earners—and what strategic planning can help you avoid it. How the New SALT Deduction Cap Could Trigger a Hidden Tax Spike—and How to Avoid It The recently proposed One Big Beautiful Bill (OBBBA) introduces sweeping tax changes—none more significant ...

<p>The post How the New SALT Deduction Cap Could Trigger a Hidden Tax Spike—and How to Avoid It first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

New York & New Jersey Retirement Plan Mandates: What Business Owners Need to Know in 2025

Why This Matters Now If you own a small to mid-size business in New York or New Jersey, there’s an important compliance issue you can’t afford ...

<p>The post New York & New Jersey Retirement Plan Mandates: What Business Owners Need to Know in 2025 first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

After the Windfall: Your First 90 Days to Financial Security

Learn how to navigate the critical first 90 days after a financial windfall — safeguard your wealth, manage emotions, and build a foundation for long‑term impact. Receiving a windfall—whether ...

<p>The post After the Windfall: Your First 90 Days to Financial Security first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>