07 Sep Blended families – Sharing the love
Many articles talk of the complex nature of relationships that lead to blended families. Studies suggests that 60 percent of marriages involving children from a previous marriage end in separation or divorce. This is double that of the overall percentage of first marriages[i]. Blended families have many positive and loving attributes. They can also create complicated estates. To minimise future disputes, it is important seek experienced and professional advice regarding binding financial (“pre-nuptial”) agreements and estate planning. Pre-nuptial agreements may protect assets if the relationship breaks down. A Will is the simplest way to lay out how you want your assets to be distributed upon you passing away. Furthermore, a trust fund can (in your will or during your life) also be set up to pass assets to your children or your stepchildren upon your death[ii]. Whilst this all can sound complicated; it need not be. We have a dedicated, caring, experienced team here at Belperio Clark who are committed to help you navigate positively through these challenges. Please feel free to contact us on 8212 1322 to speak to one of our team. [i] Meleen, Michele, "Blended Family Statistics", Love To Know: Family (Webpage, 2020) <https://family.lovetoknow.com/co-parenting/blended-family-statistics> [ii] Omier, Emily, "Blended Family Estates:...
