Blended families in Florida may face unique challenges when unexpected circumstances arise, but there are steps they can take that will allow them to plan for these matters appropriately. Planning for the future is essential no matter the family circumstances, but it is especially important in a second marriage or unique situation. Blended families can benefit from certain legal and financial protections achieved through a thorough estate plan.
What is necessary?
Building an estate plan that will last depends on the details of the individual situation, the goals of the family and more. In blended family situations, parents probably want to protect the interests of their kids from previous marriages. A strong estate plan allows them to do this. Things to consider during the estate planning process include:
- Aim to be as fair and flexible as possible.
- Communicate clearly when discussing plans.
- Consider the benefits of using certain types of trusts to accomplish goals.
- Appoint the right person to be the trustee if creating a trust.
Families creating an estate plan may benefit from thinking long-term. Plans may not be needed until years in the future, and terms should not necessarily be based on temporary circumstances or feelings.
Updates and new plans
Certain life changes, such as remarriage or divorce, necessitate updates to an existing estate plan. Whether creating a plan from scratch or making important updates to documents, it may be useful to work with an experienced estate planning attorney. Florida blended families may benefit from the guidance of a legal professional who can help them create an estate plan that will make sense for years to come.