These days, families come in all shapes and sizes. Blended families are even more common now than ever. And without proper planning, it can be easier than you think to unintentionally disinherit your children.
We all know the story about Mike and Carol. She was a widow with three very lovely girls, and he was a widower busy with three boys of his own. Mike and Carol married, and they all became the Brady bunch.
Now, imagine that Mike and Carol made no particular arrangements for their assets: some individual, some joint, but no estate plan. If something tragic had happened to Mike, everything he owned would probably be inherited by his wife. If Carol still never created a plan, everything she owned (including what she inherited from Mike) would end up with Cindy, Jan, and Marcia, Marcia, Marcia. Even if Carol got wise and signed an estate plan, there would be nothing to prevent her from naming only her girls as the sole heirs, effectively disinheriting Mike’s boys.
If you never create an estate plan, a plan still exists for you. Intestacy laws in your state will determine who will inherit your assets if you do nothing. This is where the potential to unintentionally disinherit exists. As families change due to marriage, death, or divorce, it is important to let an experienced estate planning attorney help make sure your estate plan, beneficiary designations, and asset titles meet your goals and consider your current situation.
Life is constantly changing and keeping up with what happens to your assets at death can be challenging. Reach out to us at email@example.com or (248) 477-6300 so that we can help you make sure your plan always works for you.