If you have children or are expecting one, you may also want to take the three big estate planning steps that we did.
Statistics show blended families are on the rise. About 40% of all new marriages in the U.S. include at least one person who was previously married, according to a Pew Research Center analysis. Among adults who are presently married, roughly a quarter (23%) have been married before, compared with 13% in 1960.
Nobody really likes getting a smaller piece of the pie.
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
Even a close family can have quarrels and confrontations, but these conflicts tend to be more prominent within a blended family.