Somewhere along the way, homeowners came to believe a non sequitur of sorts, that the “American Dream” includes not only buying a house but also passing that same home on to their children. Financial advisers have largely supported this tactic for passing along generational wealth.
As the calendar turned to 2023, many of us took a moment to think about resolutions. I want to lose 10 pounds. I want to read things that aren’t just about work. I want to learn how to play pickleball. Or maybe this year I’ll give a relationship another shot. Maybe I’ll even remarry.
Traditional, very simple estate planning may not be sufficient to accomplish estate planning goals in many blended family situations.
When combining finances as a new family, there’s lots to consider. To make the best choices, here are six key areas to plan ahead and consider.
We have seen some step siblings able to all get along fine but they seem to be the exception. More likely, one sibling feels divided loyalty to the birth parent, not the step-parent.
A popular technique is to use a qualified terminable interest property (QTIP) trust.
