Blended Family Estate Planning

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Blended Family Estate Planning
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When you get remarried after you have children
you are creating a blended family
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Your estate plan should be revised after
different types of significant life events
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Remarriage is certainly one of them
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In this presentation we would like to provide
some information about estate planning for
blended families
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Designating Beneficiaries
One of the things that you must take into
consideration when you are getting remarried
would be your existing life insurance
beneficiaries
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You may want to change the beneficiaries to
reflect the altered family dynamic
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The same could be said about beneficiaries of
certain types of financial accounts such as
payable on death accounts
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Premarital Agreements
You should seriously consider entering into a
premarital agreement before you get remarried
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These agreements need not be one-sided
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We are talking about an agreement between people
who love one another
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The point is to protect both parties and their
children from previous marriages
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What Does a Premarital Agreement Accomplish?
A premarital agreement can accomplish a number of
different things
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You can assert personal ownership of assets that
are in your possession as you enter the marriage
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Terms of property distribution in the event of a
divorce can be agreed upon
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You can gain protection from the creditors of a
spouse-to-be
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• Business interests can be protected

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Providing for Your Children
You have some things to think about with regard
to providing for your children when you get
remarried
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If you simply leave everything in the hands of
your new spouse you have no guarantees with
regard to how he or she will plan his or her
estate
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Your children could ultimately be disinherited
or receive far less than you intended
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Creating Trusts
To provide for your children you could convey
assets into a revocable living trust
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You make the children the beneficiaries, and
they would receive monetary distributions after
your passing
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The trustee would make these distributions in
accordance with your wishes as stated in the
trust agreement
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A Different Type of QTIP
In the field of estate planning the acronym QTIP
stands for a qualified terminable interest
property trust
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These trusts can be very useful for blended
families
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The surviving spouse receives income from the
trust
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After the death of the survivor, the children of
the grantor assume ownership of the remainder
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SCRATCHING THE SURFACE
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In this presentation we just scratched the
surface with regard to estate planning for
blended families
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To get comprehensive information you should talk
things over with a licensed estate planning lawyer
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Your attorney will ask you relevant questions,
gain an understanding of your situation, and
guide you appropriately
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To Learn More Receive a FREE Report Entitled,
Planning It Right The Second Time Around (A
19.95 Value!) CLICK HERE OR Call 405-562-9609
Today
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13913 Quail Pointe Drive, Ste B Oklahoma City, OK
73134 Phone [phone] Nall Avenue,
Suite 160 Overland Park, KS 66211 Phone (913)
385-9400