Estate planning for blended families can be especially complex in Wheat Ridge and Jefferson County. It’s a daunting task to decide who should inherit what, especially when you have biological and non-biological kids involved. It can also be difficult to broach the task, but communication is the first step to getting your affairs in order so your children are protected if something should happen to you.
Arvada Estate Planning Attorney: Communication is Key!
The first step is to sit down with your spouse and start the conversation about what you want to see happen and how you want things handled if you both pass away. Maybe you will be one of those couples who are on the same page, making this process a little easier. Maybe you and your spouse will have different ideas about how things should be handled, but working through it now, while you both are healthy is extremely important. You can take the time you need to come to mutual decisions and compromises. You will also want to discuss this with your kids, because it will affect them. If you choose to leave everything to your surviving spouse, this will affect the kids from your previous relationship. If you choose to leave your children with your current spouse a different inheritance than those from your former relationship, you will want to notify your children of that.
Jefferson County Estate Plans: The Options are Endless
Through your conversation with your spouse, there are many different conclusions that you may come to. If you, as a couple, jointly own your assets and you are choosing to divide everything equally among all your children, then a joint trust may be the best way to proceed. If, on the other hand, one person owns the majority of the assets, then individual estate plans may be necessary. Just like all blended families are different, your situation will be unique to you. Call the experienced estate planning attorneys from the Pearman Law Firm to discuss what options you have and which situation will work best for you.