Creating a will that details your final wishes requires that you consider all of your heirs and loved ones. And while this process can be an emotional one, it can become even more difficult for those with large, blended families. To help you better prepare to get your final wishes in order, below is some great information to help you and your family plan for life after you have departed the physical world.
Work with an attorney
Seeking advice from an attorney can help you tremendously. Estate planning typically brings with it many nuances and facets that you will need to consider when you have a blended family. For instance, you may want to determine if a trust is the best place to store your assets or if you should divide your property equally among everyone. A good estate planning attorney can help you make those decisions and offer guidance along the way.
Wills, Trusts and beneficiaries
When most people think of estate planning, a will or trust are often the only aspects of it that come to mind. And while wills and trusts are very useful in pulling together all of the final details, depending on previous divorce decrees, you may need to also look at your life insurance policies and retirement accounts. You may want to make sure your beneficiaries are up to date given that in California, as in many other states, the beneficiary on the account is more important than what your will states.
Talk to your family
While it may be uncomfortable, you may want to discuss your estate plans with your family. The idea is to let them know ahead of time how you plan to divide your assets and prevent any hard feelings once you are no longer with them. This can help ease the transition and make your family stronger in the long run.
When you have a blended family, estate planning becomes even more important. Using these tips may help you get started on your estate plans and ensuring that your family is well provided for after you are gone.
