Can I Keep Stepchildren Out of Estate Plan? – Annapolis and Towson Estate Planning
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
Estate planning is nearly always worthwhile but can be extra important when you have stepchildren.
There are many different configurations of blended families. However, they are generally made up of married couples who have children from previous marriages or relationships.
Because once 2026 arrives, many of the tax adjustments that were part of the 2017 Tax Cuts and Jobs Act (TCJA) are expected to expire.
My mother told me many times over the years that she had a will, and I believed her. When she passed away, we discovered that her will was 40 years old—and completely useless.
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
When combining finances as a new family, there’s lots to consider. To make the best choices, here are six key areas to plan ahead and consider.
We have seen some step siblings able to all get along fine but they seem to be the exception. More likely, one sibling feels divided loyalty to the birth parent, not the step-parent.
No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.
Even a close family can have quarrels and confrontations, but these conflicts tend to be more prominent within a blended family.
Preparing an estate plan, is like getting a physical. We know responsible adults have it done but choosing to do it yourself is just not appealing. We may decide with the information available on the internet, we simply can self-diagnose any problems that arise.