Blended Families
Television shows from the 1950s such as Leave it to Beaver depict the American family as a nuclear unit consisting of a husband, a wife and their natural children. However, the modern American family of the 21st century comes in many varieties. With divorce rates between 40%-50% nationwide and many divorced persons subsequently remarrying and acquiring stepfamilies, the typical household may truly be a “yours, mine and ours” situation. Any family can benefit from estate planning, and a blended family must certainly make special considerations to plan for their loved ones.
Can my stepchildren inherit from me?
Not directly, although it is possible for stepchildren to eventually acquire your assets and, depending on your relationship with your stepchildren, that may or may not be a desirable outcome.
If you die without a will in Michigan, your assets are distributed to your spouse or your children. Michigan’s Intestate Succession laws do not allow your stepchildren to inherit directly whatsoever. If it is your desire that you wish to leave gifts or bequests to your stepchildren, then it is imperative that a will, trust or some other estate planning instrument be created to specify your wishes.
If you are married to a spouse that has children of his or her own, but you personally have no descendants, then it is possible that the stepchildren will eventually inherit everything you have simply by predeceasing your spouse. Under Michigan’s Intestate Succession laws, your spouse inherits everything if you die without descendants. Then, upon your spouse’s death (provided he or she does not remarry), his or her children will subsequently inherit. In a situation where your assets may include family heirlooms that you wish to see conveyed to blood relatives or the relationship with your stepchildren is otherwise tenuous, then you can benefit from appropriate estate planning to ensure your wishes and desires are carried out.
Can my foster children inherit from me?
No, foster children do not have any inheritance rights under Michigan’s Intestate Succession laws unless you have legally adopted the child. If it is your desire to make provisions for children that are not your legal descendants, then it is critical to plan for them by way of a will or trust.
What rights to my ex-spouses have against my estate?
Generally speaking, an ex-spouse has no entitlement to anything in your estate by way of Michigan’s Intestate laws. Any legal connection he or she has to your assets was severed by the judgment of divorce.
However, it is a common pitfall that the decedent has forgotten during his or her lifetime to change the beneficiary on life insurance policies or pay-upon-death accounts from the former spouse to the current spouse. This is especially problematic for those types of assets that do not pass through probate. It is recommended that regular and consistent review of your estate planning occur even after drafting a will or trust to ensure that your current life situation is being accounted for. An experienced estate planning attorney can assist you in making sure that all of your assets have been accounted for.
