It is not uncommon today for a person in Florida to be married two or more times in their life. Whether due to divorce or death, many people go on to find happiness again with a new spouse. While that experience can bring great joy into a person’s life, it can also bring new complexities with it. If you are in a remarriage, especially with children on both sides, you will know this firsthand.
When it comes time to make a will or a trust, you and your new spouse must figure out how to balance your desire to provide for each other with your desire to leave something for your children and grandchildren. Defaulting to leaving everything to your spouse can leave your kids with nothing in the end.
As explained by Fidelity Investments, there are several types of trusts that can help blended families navigate these situations and, ideally, head off family conflict before it arises. Along with creating the right type of trust, having frank and proactive family conversations is recommended. It is always better for people to know what to expect ahead of time rather than to find out what they will or will not receive from your estate after you die.
If you would like to learn more about how you and your new spouse can determine the best type of estate planning tools for your family situation, please feel free to visit the blended family estate planning options page of our Florida probate and estate planning website.