MORE than half a million families in the UK include children from previous relationships. That’s 11% of the total.
And this can lead to complications when it comes to estate planning. The last thing you want is conflict within your blended, or step family following your death.
But if it’s not handled properly and thoughtfully, this, I’m afraid, can happen. Most couples have no idea of the potential pitfalls until the facts are laid out before them. As an example, if your will says a percentage of your estate is to be shared equally amongst your children, your step-children will get nothing unless you have officially adopted them. It’s also worth bearing in mind that the same applies under the rules of intestacy.
Mirror wills, where husbands and wives leave everything to each other, are actually fraught with danger in blended families. If you die first, your spouse can make a new will and disinherit your children. Or if they remarry and their mirror will becomes invalid, again, your kids may be cut off.
A good will writer or financial adviser will ask the right questions and ensure that your real wishes are carried out fairly. Contact Heritage Will Writing on 02380 879243.