Blended families have become the new norm as the baby boomer generation leads the nation with record high numbers of divorce and remarriage. The modern family dynamic often includes remarried parents, creating a blended family with their children and step children. When considering estate planning options, the question of who will inherit is significant and requires a thoughtful answer.
When deciding how to divide a lifetime of assets, a person will often want to provide for the surviving spouse while leaving a portion of the assets to their children and possibly step children. With multiple people in line to inherit, clear and current beneficiary designations are essential.