In second (or third or fourth) marriage situations where one or both spouses bring in kids from the prior relationship, estate planning can get complicated. Almost everyone has a natural affinity for their own children and their own blood family members, which can make the planning process touchy in subsequent marriages.
I just received this book that I pre-ordered months ago. Can’t wait to read it. If our sons are going to receive our assets when we die, we want to at least instill in them good financial awareness and habits
Generally, you should review your estate plan every 3-5 years or when specific events happen in your life that warrant a change or an update. The reasons are different to everyone but here are some basic reasons.
Estate planning is not just for couples with or without children. Single or unmarried people need estate planning too, of course. Their situations are not always necessarily different from married persons
We all have a plethora of online accounts and digital assets: email accounts, social media accounts, financial accounts, cloud storage accounts, digital photo accounts, music accounts, gaming accounts, website management and hosting accounts, dating sites, gaming sites, and so on. Some of these accounts make it easy
One of the most difficult decisions that parents of young children (or even older children who are not yet 18) have to make is deciding who would take care of and guide their children in the event both parents are unable to. Many spouses tend to disagree on who should be the guardians of their children