- ISBN13: 9781413310184
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
In almost half of all stepfamilies, each parent brings one or more children to a new marriage and while other books give general information about wills, trusts, and taxes, many of them may not apply to couples in second marriages.
Estate Planning for Blended Families is the first book for parents in second marriages who want to provide both for their current spouse and their children from the current and prior marriages. Author Richard Barnes has years of experience guiding couples through the process of setting goals, discussing competing priorities, and choosing strategies and this book covers:
Estate Planning for Blended Families will also provide sample estate plans as well as the latest information regarding federal and state laws.
Estate Planning for Blended Families: Providing for Your Spouse & Children in a Second Marriage
Tags: remainder mark, second marriage, estate
{ 5 comments… read them below or add one }
I am a professional financial planner with over two decades of experience. It is with this background that I tell you that I love, love, love this book! It should be on the bookshelf of every financial planner, and read by anyone entering a second marriage where there are children from prior marriages.
How could one book be appropriate for both the novice and the professional?
* For the Novice: The books concepts are presented in English, not “legaleeze”; that will let the you develop some understanding of the blended family estate planning issues; let you think things through and talk things over before contacting a lawyer.
* For the Professional: This book is really well done. If you haven’t studied estate planning issues in a professional program such as the CFP® (Certified Financial Planner), then this will be a great help to you. If you are already a CFP® ,(or other qualified professional) then this will be a quick up-to-date reference for you. Nola indicates that there are “Free legal updates at Nolo.com”
To give you an idea why I am so positive on this book… page 212 has the simplest tip that will save your heirs the frustration and agony of dealing with indifferent professional trustees and could save them thousands or tens of thousands of dollars in fee. It tells you that your trust documents should have a way to replace the trustee. It has been my professional experience that trustees work harder if they can be replaced. Additionally it is possible to negotiate fees if the banks/trust company needs to compete for your business. In all the years that I have been working as a planner, I have only seen 1 law firm produce such documents without a specific request of the client. Why is that? I can only speculate. But, law firms and banks/trust companies often refer clients back and forth. No money changes hands directly, but the fees earned indirectly can be staggering.
Don’t expect that a single book is a substitute for a qualified estate lawyer. Wills, trusts and other estate planning tools in the opinion of this writer need to executed by qualified attorney licensed as such in the state in which you are domiciled. While almost any licensed attorney can do a will, whether or not that attorney is “qualified” to handle the sophisticated level of estate planning required by many blended families is another matter. This book should help you discern whether or not you have found the right professional for you.
Also, each state has its own peculiarities when it comes to estate planning. Some are community property states; some not. Some states are incredibly expensive when it comes to probate; in others probate is so easy and inexpensive to go through probate that probate avoidance can easily cost you more than the probate process. No single book can address all the state specific issues.
Estate Planning for Blended Families is not a substitute for highly trained qualified professionals. But it will allow the client to be much more engaged in the process, increasing the odds of a successful outcome. I highly recommend this book.
Rating: 5 / 5
If this book were simply about the various estate planning options available, it would be undistinguishable from any of several other well-written books on the subject. The true strength of the book for me was the moral compass and genuine kindness that the authors encourage as they explain the various factors to consider in developing a plan. If you’re looking for “10 ways to screw the ex-wife” or “How to leave your step-father homeless after mom dies,” then this book is not for you. This book advocates for doing the right thing by all family members, which does not always mean even-stevens. With this purpose in mind, various scenarios and alternatives are examined. By the end of the book, I had a much better idea of how to approach our own estate planning and feel much more confident about how to direct our attorney in drawing up the papers.
Rating: 5 / 5
For those who come from blended families or are raising a blended family, I hope you even get to this point, planning and dividing the estate. Much of what I have read about blended families is not good. To me, it seems like a disaster waiting to happen and by the time the estate gets divided, the issues are too broad for it to flow easily.
I never came from a blended family and swore my children would never get into a blended family.
So, the cover picture of the happily blended family seems a little coerced or fake. But, if one does need to prepare the funds for dispersion after your death, all avenues need to be look at, and this book is an outstanding guide!!
Everything you ever needed to know about planning the estate, dividing it fairly or unfairly, whichever you choose is here! If this 356 page book isn’t enough, a series of resources are available, many online. Available are questionnaires, tips, case studies, do’s and don’ts. The formatting of the pages is done very good, easy to read, boxed in information easy to access, and nice bold headline fonts. Plus, there is an extensive index. PLUS, you can visit [...] for more!
The NOLO series is an excellent collection of important books to help you through almost any legalities, finance plannings, wills, etc. These books are powerful.
Easy Ways to Lower Your Taxes: Simple Strategies Every Taxpayer Should Know (USA Today/Nolo Series)
Nolo’s Essential Guide to Divorce
Nolo’s Encyclopedia of Everyday Law: Answers to Your Most Frequently Asked Legal Questions
Busy Family’s Guide to Money (USA TODAY/Nolo Series)
Quicken Willmaker Plus 2009 Edition: Estate Planning Essentials (Book with Software)…….Rizzo
Rating: 5 / 5
This guide to estate planning for couples is aimed at people in their second or third (or whatever) marriage, or any person in a marriage who has a child that is not the offspring of their spouse. Information is clearly presented in a modified outline that is not as dull as the common textbook. Of course, it is not as interesting as a novel either, so you have to be motivated in order to work your way through it.
Considerable space is devoted to the importance of estate planning, probably more space than necessary since the reader would not open the book if they did not already feel that planning was needed. Fortunately there are examples of family situations that provide interest as well as information.
As the baby boomer generation ages, this sort of guide deserves a large audience. We all need to think about what happens to our property when we die, and being part of a blended family makes this even more important. On the other hand, property laws vary from state to state so you will want a qualified attorney after you have decided who you want to provide for. Since you probably don’t want to pay your attorney to sit by while you argue details with your spouse, read this book and do your homework. And do it soon — you can always change your estate plan later if circumstances change.
Rating: 4 / 5
Most of these NOLO titles are excellent reference books on their respective topics. They are written by subject matter experts and are well edited. This book lives up to the tradition. Full of usable and practical advice, anyone with an interest in estate planning for themselves, their families, or as a professional will find this book very helpful, and more likely, indispensible. Highly recommended. It’s definitely a niche market, but if you could possibly benefit from information on this topic, buy this book!
Rating: 5 / 5
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