When David and Lisa got married, they had the perfect wedding—a beautiful ceremony surrounded by family, followed by a honeymoon in the Caribbean.
What they didn’t realize at the time was that their estate planning would be far more complicated than planning a wedding.
Both had children from previous marriages, and like many blended families, they assumed that “things would just work themselves out” when it came to inheritance.
But when David passed away unexpectedly, Lisa inherited everything, as per their will. She fully intended to set money aside for David’s kids. But over time, life happened—she had medical expenses, invested in her own children’s needs, and eventually remarried. By the time she passed away, David’s children received nothing.
Blended families are common, but estate planning myths can lead to accidental disinheritance and family disputes. Let’s set the record straight.
Myth #1: “My Spouse Will Do the Right Thing”
One of the biggest mistakes blended families make is assuming the surviving spouse will ensure assets are distributed fairly. While most people have good intentions, circumstances change.
✅ Solution: A trust can ensure that your assets are distributed according to your wishes while still providing for your spouse.
Myth #2: “A Simple Will is Enough”
A will alone may not prevent conflict among stepchildren and biological children. Disputes over sentimental items, unclear asset division, and differing expectations can cause significant stress.
✅ Solution: A clear, legally binding estate plan that accounts for all heirs can help avoid disputes and protect relationships.
Myth #3: “I Can Just Add My Kids to My Deed”
Some parents try to avoid estate planning by adding their children to property deeds. This can lead to unintended consequences, such as gift tax liabilities, increased capital gains taxes, and potential legal battles if one child wants to sell while others do not.
✅ Solution: A revocable living trust can provide structured asset distribution without triggering unnecessary tax burdens or conflicts.
David and Lisa’s story is a common one—but yours doesn’t have to end the same way. Request a consultation today and create a plan that ensures all of your loved ones are protected.