Modern Family: Estate Planning for Today’s Blended Familes

Available for Interviews: Glenn Matecun.

Glenn R. Metecun, CELA, is certified as an Elder Law Attorney by the National Elder Law Foundation. Sometimes special occasions like Thanksgiving offer great opportunities to have heart-to-heart conversations with the people we care about. Here are some talking points on how one can engage in a thoughtful and crucial conversation with his or her elderly parents on estate planning:

Key Talking Points from Glenn Matecun
On Estate Planning for Blended Families:

 

On Stepfamilies

 

• The number of remarriages has risen dramatically over the last twenty years, so many families include a mix of children, stepchildren, spouses and ex-spouses.

• When you have a “blended family” like this, failing to plan the right way can be devastating.

• Not planning at all or not planning the right way can result in unintentionally disinheriting your own children.

• Failure to properly plan can also result in disputes between the surviving children and the surviving spouse.

• Learn the five major factors in planning if you are part of a blended family.

On Second Marriages

• If you do not plan the right way, you might accidentally disinherit your children.

• We see, on a regular basis, one spouse dies and the other’s kids evict the surviving step parent from the home.

• Even if you intend to leave your spouse out of your will or trust, they have rights under state law to your assets.

• If you don’t plan, the last remaining spouse decides where all the assets go.