People often think the issues surrounding an aging population, but estate planning for blended families can also create complicated situations. A 2011 Pew Research Study shows that 42% of adult Americans have step-relations. Planning for the distribution of personal sentimental items (like a family heirloom) can be a minefield for an estate planner if there is a step-parent, step-sibling, or step-child involved. With emotions often running high a wise estate planner should be empathetic towards the family’s situation. Assisting blended families with these delicate situations can help avoid future family fights over the estate.
See Barbara Bates Sedoric, Yours mine and ours: An estate planner’s nightmare, Investment News, June 21, 2015.
