Recorded Webinar: Estate Distribution in Blended Families – Spreading the Wealth and Avoiding Disputes

When a blended family consists of adult children of the first relationship and minor children of the second, there is a tension between the needs of the minor children and the legitimate expectations of the adults. How do you provide for the surviving spouse and minor children in a fair way while ensuring the adult children don’t miss out all together? This session covers:

• Identifying the needs of the surviving spouse, minor children vs adult children of the previous relationship
• Using testamentary trusts to ensure the surviving spouse is taken care of whilst guaranteeing residual capital to the children
• Mutual wills – what can you do to avoid the second partner spending the entire estate and your adult children missing out?
• Life Insurance:
  • when should you nominate a beneficiary and when should you allow the funds to flow back into the estate?
  • can life insurance be a useful strategy to ensure the children don’t miss out?
• Superannuation:
  • ensuring tax-effective payments to the right recipients
  • use of superannuation proceeds trusts for minor children
• Playing nice – the use of family Agreements, letters of wishes and family conferences – how can they be used to manage the competing interests of second spouses and children of both relationships?