Posts Tagged ‘beneficiary’

In a second marriage, if you have children from a previous marriage, there may be conflicting interests between your spouse and children which can foster dissension between all parties should something happen to you. Your estate plan should have precise terms to avoid or reduce conflict as it would clearly define the exact rights of your beneficiaries, as well as the responsibilities of any trustees or beneficiaries. All parties involved should have a clear picture of your requests and know your exact wishes. Meeting with all parties within a blended family while you are still alive and coherent is a good means of directly sharing your wishes, and can aid in the reduction of any disagreements or misunderstandings should you pass.