When you are married with children, estate planning seems pretty straightforward.
You want your spouse making decisions for you if you are incapacitated, and you want to make sure your assets go to your spouse when you die and then to your children after your spouse is gone.
Seems simple, right?
If only our probate courts weren’t clogged with the impact of the complexity of money and family. Then it would be “easy” to go through court and there wouldn’t be $58 billion (with a ”b”) of assets in the state departments of unclaimed property across the United States.
There are a myriad of questions that need to be answered to ensure your family stays out of court and out of conflict in the event of your incapacity or death, even when you are simply married with children. And some tactical specifics need to happen to ensure your assets don’t end up lost to the state department of unclaimed property if your family overlooks something when you are not there to guide them.
Plus, if you are in a blended family with children from a prior marriage, it’s an almost guarantee the people you love will end up in conflict if you don’t plan ahead.
Most of all, your wealth isn’t measured just by the dollars in your bank account but by the well being of the people you love. If you are reading this, it is because you care enough to get your estate planning handled so your family will stay out of court and out of conflict no matter what.
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