Blended families often assume the property they bring into a marriage will remain theirs and pass according to their wishes. Unfortunately, Texas law is not always that simple.
The Estate of The Union Podcast – Estate Planning Challenges Blended Families Face In Texas is out now. In this episode of Estate of the
Failing to update your estate plan after a divorce can lead to unintended outcomes, including the possibility that an ex-spouse may still inherit from your estate.
When a family loses a loved one, the last thing they need is added stress. However, the probate process often brings paperwork, delays and emotional strain that can weigh heavily on grieving families.
Outdated beneficiary designations can quietly override even the most carefully written estate plan.
Open family conversations about property plans can prevent probate delays, disputes and unnecessary legal costs.
The portion the surviving spouse can claim depends on the circumstances.
This summer’s passing of Ozzy Osbourne was mourned by heavy metal fans and caught the attention of estate planning attorneys for lessons about how wealth is distributed among members of a blended family. Whether you liked his music or not, Osbourne left an estate estimated to be worth $230 million plus future royalties, reports a recent article from Think Advisor, “What Wealthy Families Can Learn From a Rock Star’s Estate.” There’s no estate battle for now. However, only time will tell if the Osbourne family faces issues like those of many blended families. There’s no simple playbook for these situations,…
Probate can tie up assets, create delays and drain estate value—many families benefit from planning around it.
Make sure that you have a will and up-to-date beneficiary designations on all of your bank accounts, life-insurance policies and brokerage accounts.
