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What are some estate planning issues when you have a non-traditional family?

| Mar 11, 2021 | Estate Planning |

Non-traditional family structures can be anything that is not a mom and a dad and their children. These days non-traditional families are probably more common than traditional ones, so it is not surprising if you have this type of family structure.

Depending on your particular family details, Kiplinger explains that you may have some special considerations you need to make when creating your estate plan to ensure that every one of your heirs will receive the appropriate inheritance.

Define your family

The best way to begin is to define who is in your family and who you want to leave assets to in your estate plan. For example, if you have stepchildren, do you want them to inherit anything, or will you leave them out of your estate plan because their biological parents will cover them in theirs?

Same-sex concerns

You may have special considerations to make if you are in a same-sex marriage due to the legal parental rights issues that often come up. If your partner has not adopted your children, you may need to name him or her as the guardian upon your death to ensure they stay with him or her.

Stepfamilies

Stepfamilies of any kind often have different concerns about estate planning. Not having a biological connection could leave someone out of your will without you even realizing it. For example, you may consider someone to be a relative, but legally, he or she is not. This would require specific language in your estate plan to ensure he or she does not lose out on inheritance.

Today’s modern families have different concerns than those covered directly by the inheritance laws. To ensure everyone receives the inheritance you want, you must make special considerations in your estate plan.