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Estate Planning for Your Family Part (2)

good planning Estate Planning for Your Family Part (2)  At this time, her stepchildren are not mentioned in her will because she and her husband have been married only a year. She plans to add them once she and Travis have been together for ten years. She also plans to reassess her will from time to time to make sure it’s fair. Her biggest concern is that if she has any biological children with her husband, she would want that baby to feel as if it had siblings.

“Money has a way of coming between people,” Stacy says. “I wouldn’t want my child to be segregated from the older children because of money.” Stephanie, on the other hand, changed her will to exclude her stepson after they could not develop a positive relationship. The rebellious teenager did everything he could to disrupt the household, especially when Stephanie and her husband, Luke, tried to set up boundaries for him.

Stephanie’s stepson stole things from both his father and his stepmother. He broke curfew constantly, and on one occasion was brought home by the police after a night out drinking when he was 15. “At first my stepson was included in my will: everything just went directly to my husband and then it would go to his son.

But after my bad experience with my stepson, I changed my will, and now all of my money will go to my sister. I decided my sister could use it better than my stepson, who is going to have plenty of money from his mother and father.” What you do with your money is your choice. Whatever decision you make, consider the impact of your decision on your family members and talk about it with them.

 

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