Planning for Blended Families | Marietta Estate Planning Lawyer

Planning for Blended Families | Marietta Estate Planning Lawyer

Many people are familiar with this common horror story: a parent remarries later in life to a person with a family of his or her own; when the parent passes away, their estate goes entirely to their new spouse through the laws of intestacy.

When the new spouse then dies, the cumulative estate goes to his or her children, leaving the original parent’s children without their rightful inheritance. This happens all too often, and usually leads to nasty court battles and hard feelings all around. However, estate planning lawyers in Marietta want people to know that with proper planning, these issues can be avoided.

While it may not always be pleasant  to think about what happens if you pass away, Marietta estate planning attorneys strongly advise those who are entering into a blended family situation to consider the following:

  • Truly think about who you want to provide for and in what manner. You may want to leave everything to your children, you may want to provide for your new spouse, or you may even want to leave a legacy for each member of your blended family. The decision is up to you, so think carefully about it.
  • Speak to your family about any heirlooms or items they may have a personal connection with and may want after your passing. If possible, make it known in your estate plan that certain family members should receive certain items.
  • Consider the possibility that you may pass first, but also consider that your spouse may pass before you. While you may be preoccupied with protecting your own legacy, consider what may happen if the roles are reversed and your family ends up with your spouse’s family’s inheritance – then make plans with your spouse to ensure each side will achieve a satisfying outcome.
  • Review your insurance policies, estate planning documents, and beneficiary forms for financial accounts to ensure they are all up to date – and more importantly, that you are not leaving funds for an ex-husband or wife. There are many, many cases of insurance payouts going to an ex-spouse who has had nothing to do with the deceased for years instead of going to the current spouse, all because the policies were forgotten and never updated.
  • When consulting with a Marietta estate planning lawyer, make sure they have experience in helping blended families in these matters. There are many techniques that can be used, such as the use of certain Trusts, to ensure all members of the family are adequately taken care of and all of your wishes are met, but it takes an attorney practiced in such matters to make sure these things are done correctly.

If you have questions about estate planning for your blended family or you wish to update your estate plan to account for your blended family, please contact us at 770-425-6060 to set up a consultation.

 

 

Revoking a Power of Attorney | East Cobb Estate Planning Lawyer

Revoking a Power of Attorney | East Cobb Estate Planning Lawyer

If for any reason, you become unhappy with the person you have appointed to make decisions for you under a durable power of attorney, you may revoke the power of attorney at any time. Here are a few steps From your neighborhood East Cobb estate planning lawyer that you should take to ensure the document is properly revoked.

While any new power of attorney should state that old powers of attorney are revoked, you should also put the revocation in writing. The revocation should include your name, a statement that you are of sound mind, and your wish to revoke the power of attorney. You should also specify the date the original power of attorney was executed and the person selected as your agent. Sign the document and send it to your old agent as well as any institutions or agencies that have a copy of the power of attorney. Attach your new power of attorney if you have one.

You will also need to get the old power of attorney back from your agent. If you can’t get it back, send the agent a certified letter, stating that the power of attorney has been revoked.

Because a durable power of attorney is the most important estate planning instrument available, if you revoke a power of attorney, it is important to have a new one in place. Your East Cobb estate planning lawyer can assist you in revoking an old power of attorney or drafting a new one.

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