Estate Planning Attorney Benjamin Goldburd Highlights Challenges Blended Families Face Tackling Probate – New York, NY

Manhattan probate and estate planning attorney Benjamin A. Goldburd, partner at Goldburd McCone LLP in New York, emphasizes the unique estate planning challenges faced by blended families, which can include stepchildren, spouses from previous marriages, and adopted children. For more information please visit https://www.goldburdmccone.com

-- Minimizing the risk of litigation within family circles should be a key consideration for blended families when creating an estate plan, acknowledged Probate Attorney Benjamin A. Goldburd.

For more information please visit https://www.goldburdmccone.com

Given the rise of blended families - households that can include step-grandparents, stepchildren, spouses from previous relationships, half-sisters and brothers, and adopted children - they face unique legal and emotional challenges when it comes to navigating complex, time-consuming estate planning and probate issues.

According to the Pew Research Center, about 16% of American children live in blended families, and many adults remarry at least once. So, the need for estate plans to be correct is extremely high, said Goldburd of Goldburd McCone, LLP.

He emphasized that tackling the nitty-gritty of estate matters can fail on a number of points, not least because of potential inheritors’ expectations. One of the most common and emotionally charged challenges arises between biological and stepchildren.

If a parent remarries and later passes away, children from the first marriage may fear being cut out of their inheritance in favor of the new spouse or step-siblings.

Without a will or trust specifying the deceased’s intentions, state intestacy laws, which govern what happens when there’s no will, typically give the surviving spouse a large share of the estate, leaving biological children with less than expected.

Conflicts could arise from competing expectations of a surviving spouse seeking to inherit their partner’s estate, while children from previous marriages may feel entitled to a share of the wealth.

Goldburd raised additional concerns about legal problems stemming from family members who had previously created estates but failed to update them to reflect changing circumstances and their new family dynamics.

“The danger is that children from previous relations could still be written into an estate when that may no longer be correct. That could further fuel confusion, speculation, resentment and anger from competing beneficiaries. Keeping an estate up to date is essential.”

However, many blended family members never get around to updating their wills or trusts after remarriage. A parent might have named an ex-spouse as a beneficiary or left assets to children without accounting for new stepchildren. These oversights can lead to unintended outcomes during probate.

For example, if a life insurance policy still lists a former spouse as beneficiary, that person will likely receive the payout even if the deceased intended otherwise. Similarly, joint accounts or property titled with “right of survivorship” automatically pass to the co-owner, often the new spouse, bypassing the will altogether.

He warned that failing to have an estate plan in the first place will only maximize the chances of legal action. Those who die intestate are subject to intestacy laws, with a probate court determining how assets are divided.

“Ultimately, a court may not reflect the decedent’s actual wishes, which may compound family grief further at a time when emotions and tensions are running high.”

Seeking a probate attorney to clarify matters is even more critical if allegations of undue influence are leveled. “Others could accuse a spouse or stepchild within the family circle of pressuring a relative for undue gain or favoritism in the estate plan. Equally, any late changes to a will may be misinterpreted and challenged,” he added.

“The best and safest approach would be to consult an experienced probate attorney. They can assess matters neutrally without the influence of family dynamics and lay out a clearly thought-out strategy for an estate that addresses the complexities of a blended family,” Goldburd concluded.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Benjamin A. Goldburd
Email: Send Email
Organization: Goldburd McCone LLP
Address: 11 Broadway, Suite 1155, New York, NY 10004
Phone: (646) 663-8226
Website: https://www.goldburdmccone.com

Release ID: 89179005

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