Planning for children from a prior marriage
Planning for children from a prior marriage
No matter how comfortable these relationships may appear, nothing can take the place of thoughtful arrangements made in advance to ensure that your beneficiaries receive the bequests you intend with zero chance of mishap in the delivery. Competent legal advice and careful attention to beneficiary designations should get the results you want.
It is not only in fiction that disagreements arise among surviving family members that can destroy, for generations, personal relationships, as well as high-value estates. It is this very real adverse financial impact on a family’s assets that accounts for the inclusion of this option for your careful consideration.
Getting Started
Walk through each intended inheritance and precisely how each will be delivered. If satisfactory, consult a competent attorney who works in this area of the law for review and appropriate documentation.
Some Insights
Given that all relationships change upon incapacity and death, be very sure you’ve done all you can to protect the value of what’s left of both estate and relationships. This may require initiating some overdue discussions, but don’t be afraid to do what is necessary to get the best possible outcome on the financial and emotional front. These will be efforts that can produce meaningful results.