[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/how-can-blended-families-use-estate-planning-to-protect-all-of-the-siblings-greenwich-ct-new-york-ny\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/how-can-blended-families-use-estate-planning-to-protect-all-of-the-siblings-greenwich-ct-new-york-ny\/","headline":"How Can Blended Families Use Estate Planning to Protect All of the Siblings?","name":"How Can Blended Families Use Estate Planning to Protect All of the Siblings?","description":"\u201cNo matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.\u201d 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\u2019s estate […]","datePublished":"2021-01-14","dateModified":"2024-04-02","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso, LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso, LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0278800c9634.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b0278800c9634.jpg","height":1067,"width":1600},"url":"https:\/\/www.amorusolaw.com\/blog\/how-can-blended-families-use-estate-planning-to-protect-all-of-the-siblings-greenwich-ct-new-york-ny\/","about":["Blended Family","Estate Planning","Gifting","Stepchildren \/ Stepparent","Surviving Spouse","Trusts"],"wordCount":528,"keywords":["Blended Family","Estate Planning","Gifting","Stepparents","Surviving Spouse","Trusts"],"articleBody":"\u201cNo matter how solid the relationships might be, it is important for parents to be aware how blended families can create unique estate planning issues.\u201dIf 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\u2019s estate plan will be structured to address any unequal distributions. This unique circumstance requires a unique solution, as explained in the article “Estate Planning: A Trust Can Be Used to Protect Blended Families” from The Daily Sentinel. Blended families in which adult children and stepchildren have grandchildren also require unique estate planning.Blended families face the question of what happens if one parent dies and the surviving step parent remarries. If the deceased spouse\u2019s estate was given to the surviving step parent, will those assets be used to benefit the deceased spouse\u2019s children, or will the new spouse and their children be the sole beneficiaries?In a perfect world, all children would be treated equally, and assets would flow to the right heirs.\u00a0 However, that does not always happen. There are many cases where the best of intentions is clear to all, but the death of the first spouse in a blended marriage changes everything.Other events occur that change how the deceased\u2019s estate is distributed. If the surviving step-spouse suffers from Alzheimer\u2019s or experiences another serious disease, their judgment may become impaired.All of these are risks that can be avoided if proper estate planning is done by both parents while they are still well and living. Chief among these is a trust because a simple will does not provide the level of asset control needed in this situation. Don\u2019t leave this to chance\u2014there\u2019s no way to know how things will work out.A trust can be created so the spouse will have access to assets while they are living. When they pass, the remainder of the trust can be distributed to the children.If a family has helped out two children more than others, as mentioned above, the relationships between the siblings that took time to establish need to be addressed while the parents are still living. This can be done with a gifting strategy, where children who felt their needs were being overlooked may receive gifts of any size that might be appropriate, to stem any feelings of resentment.That is not to say that parents need to use their estate to satisfy their children\u2019s expectations. However, in the case of the family above, it may be a reasonable solution for that particular family and their dynamics.A good estate plan addresses the parent\u2019s needs and takes the children\u2019s needs into consideration. Every parent needs to address their children\u2019s unique needs and be able to distinguish their needs from wants. A gifting strategy, trusts and other estate planning tools can be explored in a consultation with an experienced estate planning attorney who creates estate plans specific to the unique needs of each family.Reference: The Daily Sentinel (Dec. 16, 2020) “Estate Planning: A Trust Can Be Used to Protect Blended Families“"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"How Can Blended Families Use Estate Planning to Protect All of the Siblings?","item":"https:\/\/www.amorusolaw.com\/blog\/how-can-blended-families-use-estate-planning-to-protect-all-of-the-siblings-greenwich-ct-new-york-ny\/#breadcrumbitem"}]}]