Financial Planning for the Blended Family

First, congratulations. We love helping families who are coming together. In addition to some of the emotional implications that make come along with blending your family, it is also important to get your financial arrangements in order. Here are some top suggestions before you tie the knot:



The most important consideration is open and honest communication about your wishes while property planning for your future. Many couples (and families) benefit from knowing that they all agree, or at a minimum will not be surprised by, important financial decisions. Early discussions about important financial topics may help reduce conflict. Minimizing disagreement upfront also reduces disputes over these financial issues and can greatly ease future legal costs, a savings to everyone involved.


Consider a Pre-nuptial: 

A prenuptial agreement is a contract entered into by a couple before marriage. The pre-nup spells out the property rights of one or both parties involved in the case of death or divorce. A pre-nuptial agreement can be particularly important in blended families, to spell out exactly how you would like your assets to be split between your new spouse and prior (or future) children. To ensure enforceability, you will need to meet with your family law attorney to discuss your options.



Remember to update beneficiaries for your policies, such as insurance and retirement accounts. You may need or want multiple primary beneficiaries; such as your new spouse and your children sharing equally; or just one primary beneficiary, with assets going to your child or your new spouse.


Consider an Estate Planning Attorney: 

You may wish to speak with an estate planning attorney to help in drafting new wills, or in the creation of a living trust. An estate planning attorney will be able to review the various tax consequences of your financial arrangements and help you to create the best plan that works for you.


For assistance establishing a prenuptial agreement speak with one of our Washington State Family Law Attorneys at Elise Buie Family Law Group, PLLC.  We provide free consultations to help get you started with planning your prenup today. 


Subscribe to our newsletters

Subscribe to one or more of our newsletters, delivering meaningful insight on topics that matter to you and your family.


Latest Blog Posts

There are various ways to plan for the handling of your remains after death, as we discussed in Part I of “How to Handle Remains in Washington State.” What option you choose will likely turn on some combination of your…

Death is a part of life. Like taxes, there's no avoiding it. Also, like taxes, you may not like thinking or talking about the subject. However, if you think about death and how to handle your remains from a planning…

Every child deserves love, stability, and consistency. Is there a child in your life that you have considered adopting, perhaps because they are the child of your spouse or a child you are fostering? Perhaps there is an adult in…

The thought of losing your home or its contents in a disaster is a scary thought. Loss of life, destruction of irreplaceable items such as home movies, photos, and heirlooms make it unconscionable. But as we know in life, sometimes…

Spoiler alert: If you’re doing everything around the house (or at work) because you’re living (working) with a bunch of incompetent fools, or so they’ve led you to believe they are, you’re being manipulated. So pervasive is this phenomenon, there’s…

If you've created an estate plan, you've already spent a good deal of time thinking about what will happen to you if you become sick, incapacitated, or die, including where you will go (literally) when you die. After all, you don't want your…

If you're 18 or older and live in Washington State, you can legally change your name to anything you want as long as you're not doing so to commit fraud. For example, if your goal is to change your name to evade…

Your estate plan should ensure your special needs child experiences the best quality of life they can, that the assets upon which they will rely will last as long as possible during their lifetime, and that their eligibility for public services will be maximized. Learn more.

Popular culture is using the moniker "America's daughter" to describe Gabby Petito because she could've been any of our daughters. Learn how to talk to your daughter about the signs of domestic abuse.

When a couple decides to divorce, and one spouse is unable to support themselves, spousal support becomes a hot-button issue. Learn how to mitigate conflict and move forward.