Do you remember the Brady Bunch movie? Yeah, right, that’s an old movie! But that kind of scenario is still very much in play today where a man goes into a new marriage with his kids, and the new wife comes with her own kids as well. In the Brady family, you could see how “nice” Carol was to Mike’s 3 boys, and how they lived happily as one big united family. They were the perfect blended family such that one would readily jump to the conclusion that if Mike were to die, Carol would threat all the kids equally and would see to it that Mike’s boys enjoy as much from the property as her own kids. But as much as you’d hope for this, it is hardly ever the case. Every human is selfish in their own way, and whether Carol’s niceness to Mike’s boys was a front or not, she is likely to favor her own kids over Mike’s when Mike dies. Things like that happen every day, and not just out of sheer wickedness. To ensure that his kids gets a fair share of his property after he dies, all Mike needed to do was to create an estate plan that puts such instructions in place.
Enjoy your new marriage knowing your kids are protected now and when you’re gone
You have to know that your spouse has no legal obligation to leave property to your own kids in case you die before him or her, and so you have to protect the interest of your kids now that you are alive. If you live in New Jersey, then our probate law firm New Jersey is well within your reach. Contact us today for assistance planning your estate to ensure that your desire and the best interests of your kids are addressed.
Estate planning tips for blended families
Here are a few estate planning tips for blended families:
1. Do not leave everything to your spouse out of love
Out of overwhelming love, trust and gratitude, you may feel the ease to leave everything to your spouse. You feel you can entrust all your wealth in their hands, and they would use it to the best interests of your biological children. But do not do this. Things change. When you die, your spouse can marry someone else and leave your hard-earned assets in their hands, cutting your own biological kids from the will. After all, they are not obligated to remain widowed.
2. Create a trust
If your kids are minors, you can consider creating a trust which leaves property to your spouse during their lifetime, and when they die, whatever is left will be bequeathed to your children. This guarantees that your spouse enjoys the property which ultimately goes to your children (and not another spouse) at your spouse’s death.
3. Consider your choice of trustee
In creating a trust, you have to appoint someone competent and without bias; someone who you trust to make the right judgment in distributing assets to your spouse and kids. If you fail to do this, tension may arise in your family as there most definitely would be conflict between what your kids want and what your spouse wants.
4. Allow for assets to pass to your kids immediately you pass away
When you leave assets for your children to inherit as soon as you die, then they wouldn’t have to wait ages for their step-mom to die before they inherit what is due them.
5. Health care power of attorney
A probate attorney can help you create a health care power of attorney, a document giving authorization to a person to make medical decisions on your behalf when you fall fatally ill. You have to consider a suitable person for this role, as New Jersey only allows you to appoint one person. Should you appoint your spouse, your daughter or son? If you appoint your child to make health care decisions for you, are you sure they won’t use it as an opportunity to override your spouse and cause conflict among themselves? Will your child prevent your spouse from seeing you at the hospital? The reverse may also be the case. Bottom line is, ensure that whoever you’ll be appointing to make medical decisions for you has your best interests at heart, and that their appointment wouldn’t be a cause of family commotion.
Probate law firm New Jersey
Our probate law firm New Jersey is open to New Jersey singles, couples and blended families. We work hand in hand with our clients to ensure that their desires come to pass. Visit us or make a phone call to consult one of our estate planning lawyers for professional assistance creating your estate plan.
