Estate planning for a blended family can be quite different from the planning you did in your first marriage. Now it is important to consider how to plan for your children, your spouse’s children, and any shared children. More than ever, it is important to have an estate plan in place that says where your assets go after you pass away.
Something to consider is that if you own assets as joint tenants or name your spouse as the primary beneficiary and you pass away first, the assets will be distributed according to your surviving spouse’s wishes, which may not include your children. Effective estate planning can make sure that you take care for your surviving spouse but your assets end up with your children.