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Estate Planning Isn’t Just for People with Children

couple by water

It’s very common for clients to seek out estate planning when a child is born or when they are preparing to travel without children for the first time, but adults with children are not the only ones that need proper estate planning. In fact, in some ways it is more important than ever for childfree individuals and couples to consider a comprehensive estate plan.One primary issue that must be addressed for a person without children is: who will inherit your assets (e.g., real property, bank accounts, personal effects, etc.) upon your death? As set forth in the probate code, the...

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Estate Planning for Blended Families

Family Play

The unique nature of a blended family – that is, a family where one or both spouses have children from a previous marriage – necessitates careful estate planning. With a number of potentially difficult dynamics at play, the trustors (the creators of the trust) must carefully address issues such as difficult interpersonal relationships and planning for the entire family at death.  Even when relationships are harmonious amongst the spouses and the children - mutual children and children from prior marriages – estate planning is still vital. Many questions remain for the trustors, including:At the passing of the first spouse,...

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Estate Planning after Divorce

Divorce

Divorce will involve serious and important questions related to minor children, division of assets, and financial support.  Often, after the divorce is finalized, crucial estate planning considerations may be overlooked.The last thing you’ll want to do after a divorce is more legal work.  Nevertheless, it is crucial to properly update, correct, and understand your estate planning after divorce.  Here are a few issues to consider:Your Estate Planning Attorney: It is typical for a married couple to use the same attorney for their estate planning.  Once you are divorced, your financial and personal interests with your former spouse are no...

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