“Increasingly, financial advisors are working with clients from nontraditional families, which can sometimes require different or additional strategies to protect their assets and achieve their financial goals.” Seniors who are married to younger spouses have a special situation for estate planning, a situation that’s become more common, according to Barron’s recent article “Couples with Big […]

Family Portrait At Christmas

“When you’re planning to divide your estate unequally, explain the reasons to your heirs, and remember: They might be hurt anyway.” Leaving an equal amount to adult children works for many families, but equal is not always equitable. In those cases, leaving different amounts to heirs can lead to irreparable breaks within the family. A […]

Smiling Gay Couple

“Some people are concerned that the new conservative 6-3 majority on the Supreme Court will roll back protections for non-traditional families. Regardless of the decisions at the Supreme Court, or the impact on the state family courts, there are many ways that non-traditional families can maintain control.” Today’s non-traditional family are not just LGBTQ couples, […]

mixed raced family photo

“No matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.” If two adult children in a blended family receive a lot more financial help from their parent and stepparents than other children, there may be expectations that the parent’s estate […]

colorful art

“After a loved one passes, one of the biggest hurdles families face is passing wealth onto the next generation. Unfortunately, family dynamics can spur conflict and infighting among descendants.” More than two-thirds of all advisors surveyed by Key Private Bank said the hardest part of estate planning is navigating family dynamics, according to a 2019 […]

large mixed family

“When the first spouse dies, the surviving spouse may not remain as close with his or her stepchildren. Small irritations which were overlooked during the lifetime of the spouse who died, may become outright disputes.” Estate planning for blended families is like playing chess in three dimensions: even those who are very good at chess […]

Old couple

What are the inheritance rights and what are the key issues? All major life events should bring some careful consideration of your estate plan and a second marriage is no exception, especially with the possibility of a pre-nuptial agreement, according to nwi.com in “Estate Planning: Planning for second marriages“. There’s a second opportunity to sign […]

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Why is the revocable trust so appealing? You can change it whenever you’d like. You do not have to have a lot of money or assets in order to benefit from the use of trusts, according to Barron’s in “Why a Trust is a Great Estate Planning Tool – Even if You’re Not Rich“. Many […]

large mixed family

With the traditional family on a downward trend, the modern family is raising some new questions for estate planning. The rising numbers of modern and blended families have created some challenges for estate planning, according to Forbes in “How Long Will Stepmom Live? And Other Vexing Estate Planning Questions for Modern Families“. An example is […]

Leg of a Man Standing with a Shovel in a Yard

Government regulations usually have less impact than family relations. There are some big estate planning mistakes that farmers can make. It is best to be aware of them and avoid following in the footsteps of others, according to Ag Web in “5 Estate Planning Mistakes You Don’t Want To Make“. The current estate tax exemptions […]