Don’t Accidentally Disinherit Your Own Children

One of the most important reasons to create an estate plan is simple:

To make sure your children are not unintentionally disinherited.

This risk is much higher in what’s called a blended family. A blended family is when one or both spouses have children from a previous relationship.

And here’s where many families are surprised:

Inheritance laws are not “one-size-fits-all.” Different family dynamics trigger different legal rules. The rules that apply when both spouses share the same children are not the same as the rules that apply when children are from prior relationships.

Why This Matters?

Most parents assume their children will automatically inherit their assets. In blended families, that assumption can be very wrong. If you are remarried and you pass away, here are just a few possibilities:

• If assets are jointly titled, everything may go directly to your spouse.
• If your spouse is not the parent of your children, when your spouse later passes away, those assets may go entirely to spouse’s children.
• Your children could receive nothing.

If property is titled only in your spouse’s name even when you purchased the together, half of that property may go to your spouse’s children.  And if the property is homestead property, you may receive only a life estate and then your spouse children may inherit the whole property upon your death.  In that case, your children will receive nothing. Again, your own children could end up receiving nothing.

Thus, lack of planning can legally disinherit your own children.

Purpose of Planning

One very important purpose of planning is to make sure that your assets go to the people you choose, in the way you choose.  Most parents want their children or grandchildren to benefit from what they worked hard to build. If that’s your goal, the first question to ask is:

Are we a blended family?

Are you married and either of you have children of a prior relationship? If the answer is yes, proper planning is not optional — it is essential.

With proper planning, you can:

• Protect your spouse
• Protect your children
• Ensure fairness
• Control how and when assets pass
• Avoid unintended disinheritance

And you can structure everything so that no matter who passes first, your wishes are honored.

If you think you should be doing planning for you and your family right now, you are probably right. Don’t delay, give us a call at 305-456-7158 or 772-405-1984 or you may schedule a zoom meeting now by CLICKING HERE.  

We will be very glad to help you set these protections for you and yours.

At Yahima Suarez, PA We Care!

Tel. Miami: 305-456-7158 / St. Lucie County: 772-405-1984