New Haven Estate Planning Attorney on What You Should Know About Stepchildren and Your Estate Plan
- By Franklin Drazen
- Posted May 30, 2022
No matter how much you love your stepchildren and want to plan for their futures, Connecticut laws don’t recognize stepsons and stepdaughters as immediate heirs. Knowing that, if you don’t specifically list your stepchildren in your estate plan, they won’t have any legal rights to your assets. That means when you pass away, they could be left with nothing.
When there are stepchildren to consider, it’s important to create a comprehensive estate plan that includes them. You must explicitly mention them in the legal documents to protect their interests, so they’re taken care of when you pass away.
How to Incorporate Stepchildren into Estate Planning
Whether you’re creating an estate plan from scratch or modifying an existing one, it’s vital to include all relevant information related to your stepchildren. You should make updates regularly, especially during significant life events, such as death, birth, marriage, and divorce.
Common updates you might consider if you have stepchildren include:
- Modifying the language in your trust or will to include the word “stepchildren” instead of just “children.”
- Updating the named beneficiaries of your life insurance policy, 401(k) plan, IRA, and other non-probate assets.
- Creating or changing power of attorney for your stepchild to be responsible for making important medical or financial decisions when you can no longer speak for yourself.
- Appointing your stepchild as the personal representative of the estate or successor trustee of your trust to manage and distribute your assets upon your death.
It’s also a wise idea to have conversations with your family about your intentions. Everyone should understand your final wishes and the part you want your stepchildren to play in your estate (if any). Communicating openly means there won’t be any surprises when it comes time to settle your estate, possibly preventing costly and time-intensive courtroom battles within the family.
Contact Us
Estate planning for a blended family can cause issues in the future if you’re not careful. You need an experienced New Haven estate planning attorney to assist you with all necessary documents to avoid mistakes. If you’d like to discuss the available options for creating an estate plan for your stepchildren, do not hesitate to contact our office by calling 203-877-7511.
