With blended families, single-parent households and other non-traditional families now outnumbering the “traditional” husband-and-wife household, estate planning is taking on a new dimension.
http://gty.im/468838279
An article on LIfeHealthpro.com says extra care must be taken when drawing up estate plans for such non-traditional families.
In certain cases, such as with unmarried couples, the wrong plan could result in partners losing control of their own destiny in terms of medical care and disposition of assets, for example, the article says.
Sometimes, because of how federal and state laws may treat couples differently based on marital status, the estate plan must be drawn up to “work around” those laws, the story says.
Doing so may simply require a few extra steps be taken when the plan is being drawn up.
One important strategy is that the estate planning documents explicitly specify the rights and powers a surviving partner will have in the event the other one dies. This applies in particular to the will, power of attorney, health care proxy and advanced health care directive.
These are all reasons why the expertise of an attorney who specializes in estate planning is needed especially where non-traditional families are concerned.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
