Estate planning challenges experienced by blended families
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Estate Planning Challenges Experienced By Blended Families
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Transcript of Estate planning challenges experienced by blended families
Estate Planning Challenges Experienced By Blended Families
More and more Australians today get married more
than once and as a result, estate planning issues
involving blended families are more common these
days. !
A blended family is formed when there are children
from more than one relationship.
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A typical example of this is where a man has
children with his first wife, then re-marries another woman and
has additional children with her.
!This situation can raise
particular challenges for estate planning.
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Because marriage automatically revokes all
prior Wills, his older children may be
concerned that his new wife and her children may
influence him to their advantage, at the
expense of the older children’s inheritances.
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these are some aspects that you have to carefully consider:
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Creating a discretionary trust that will remove your assets from your probate estate.
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Guarding against allegations of incapacity, by getting examined by a doctor to obtain a written certificate confirming you have all of your faculties, so it can be attached to your Will and other estate-planning documents.
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The “what-if” consequences of certain events, such as your second spouse also re-marrying after your death.
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These concerns can become a potential minefield of litigation, where competing family interests and loyalties can divide into battle-groups all too easily.
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In order to avoid complications and misunderstandings, you need to exercise much caution as you create your will and estate plan.
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You should find a lawyer who specialises on Wills and estate planning in Adelaide to help you create a modern integrated estate plan.
www.Genders.com.au
Rod Genders is a senior Australian
lawyer specialising in
Wills and estate planning, probate
and estate administration.
!
www.Genders.com.au
His boutique specialist law firm,
Genders & Partners, is one of
the oldest and most respected in
Australia.
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Call us today on
08 8212 7233 for a FREE
Telephone Consultation
www.Genders.com.au
Suite V1, Level 3, 169 Fullarton Road Dulwich, South Australia 5065
we are located atwww.Genders.com.au
