Many estate planning disputes arise within blended families. Conflicts often emerge between stepparents and stepchildren when a will lacks clarity about the distribution of assets. Fortunately, consulting with a skilled and experienced Seattle estate planning lawyer can help mitigate such disputes, enable a smooth transition when the time comes, and safeguard your blended family’s future. With this in mind, here’s what you need to know about estate planning for blended families so you can prepare.
What Can Go Wrong When You Don’t Protect Your Blended Family With an Estate Plan
Estate planning lawyers sometimes say that the worst enemy of your estate in probate court is a non-existent will, but other scenarios can be just as problematic. For example, ambiguity can cause plenty of problems. For a blended family, one of the most frightening sights is a will that no longer reflects reality.
Consider a will that assumes the testator’s immediate family is all that matters and ever will matter. Each spouse writes a will that says, “If I predecease my spouse, my spouse inherits everything. If my spouse predeceases me, our children inherit everything.” This is fine if both spouses live to an advanced age. If one spouse dies young, though, it creates a conflict if the surviving spouse never updates his or her will.
Imagine if Dad remarries after Mom dies, but he never updates his will. When he dies, the children inherit everything; pursuant to his will, Stepmom does not inherit a penny. The omitted spouse or omitted domestic partner law was invented specifically for situations like this one.
More specifically, if someone writes a will and then gets married or enters into a domestic partnership afterward but doesn’t update the will to include their new spouse or partner, the law provides that the new spouse or partner should still receive a share of the estate, similar to what they would get if there was no will. This doesn’t apply if it’s clear the omission was intentional. The court can consider various factors to decide the exact share, and existing bequests in the will might be adjusted to provide for the omitted spouse or partner.
Couples Who Marry Late in Life Need Prenuptial Agreements
You should update your will if you are entering your second marriage, especially if you have children from your first marriage. You and your spouse should also sign a prenuptial agreement.
The will outlines what your spouse does and does not inherit, but if your spouse feels that his or her inheritance is not enough, they can contest the will. The best way to prevent this problem is with a prenuptial agreement.
Having a prenuptial agreement in addition to a will offers significant benefits if you remarry in Washington state. A prenuptial agreement allows you and your new spouse to clearly outline the financial arrangements and property rights during the marriage and in the event of a divorce.
This agreement can specify what is considered separate property and what is marital property, protecting your assets and providing clear communication so that your financial intentions will be honored. This is particularly important in Washington, a community property state, where assets acquired during the marriage are generally considered jointly owned. A prenuptial agreement provides clarity and protection, helping to avoid potential conflicts and misunderstandings about financial matters.
Moreover, a prenuptial agreement complements a will by addressing the distribution of assets upon death. While a will specifies how your assets should be distributed after you die, a prenuptial agreement can establish the financial rights and obligations during your lifetime, including provisions for spousal support and property division.
This dual approach allows the management and distribution of your assets to be aligned with your wishes, reducing the risk of legal disputes among surviving family members. By having both documents, you create a comprehensive estate plan that addresses your financial affairs from multiple angles, providing peace of mind and financial security for you, your spouse, and any stepchildren you choose to account for.
The Value of Creating a Trust in Estate Planning for Blended Families
Trust funds are not just for wealthy people. A trust could be the ideal solution to blended family probate disputes. For example, if you have children but your spouse does not, you could establish a trust for your spouse while making your children the main beneficiaries of your will. If you and your spouse have children from your respective previous marriages, each of you could establish a trust for your children.
For everyone, including blended families, the beauty of a trust is that the beneficiaries can receive money from it without having to go through probate. Depending on the provisions of the trust instrument, they might be able to begin receiving payments as soon as the grantor dies or even while the grantor is still alive. In either case, they do not have to wait for the estate to settle.
A Seattle estate planning lawyer can help you figure out the specifics of your trust. This includes whether it should be revocable or irrevocable and the schedule according to which the beneficiaries should receive money from it, among other issues.
Contact a Seattle Estate Planning Lawyer About an Estate Plan for Your Blended Family
One of the most beautiful aspects of remarriage is blending families and creating another unique family unit from doing so. Having an estate plan for your blended family can offer you peace of mind during your lifetime that the people you care about will be protected after you die.
At Elise Buie Family Law, our Seattle team of estate planning lawyers has extensive experience guiding individuals about issues related to creating an estate plan for blended families. We can help you protect yours. Contact Elise Buie Family Law in Seattle, Washington, to set up a consultation.
