Let’s start by understanding the concept of a blended family. If you are married to someone and have kids, but both or either of you also has kids from a previous marriage who live with you, it is a blended family. Expectedly, estate planning for blended families is inherently complex. Depending on the relationship you share with the members, you must ensure that your estate is divided as per your wish. Your best choice is to talk to an estate planning attorney in San Antonio to discuss the various aspects relevant to your situation. In this post, we are sharing critical tips related to the process in Texas.
Do not depend on the Texas Intestacy Laws
If you die without a will or other estate planning documents, Texas Intestacy Laws will come into play. The intestacy laws will decide what happens to your assets and everything you own, and that may not be anywhere closer to what you want. While the laws are meant to be fair, you cannot expect things to move as expected without your estate plan in place.
Discuss with the family
While it may seem a bad idea initially, you should talk to the entire family about blended families. It allows you to discuss all the issues that are likely to crop up and come up with an arrangement and an estate plan that will provide for everyone who matters to you.
Consider all options
There are lawyers who have years of experience handling estate matters for blended families, and you can expect them to offer insight and advice on how you can manage and protect your assets better. A will allows you to decide what happens to your estate upon your death, but you may also benefit from a trust. Besides guiding you in creating estate planning documents that will help avoid unwanted situations, your lawyer will also guide you in choosing beneficiaries. They can also advise you on important people who make medical and financial decisions if you are ill or incapacitated.
Keep the needs of your children as your priority
While blended families are complicated, you need to ensure that the kids are taken care of. If your step-children are not adopted legally, there are particular ways to ensure they remain a part of your estate plan. Talk to the lawyer to know the options.
Finally, ensure that you update your estate planning documents as and when needed.