My Stepmother Stole My Inheritance
The issue of warring
stepfamilies after the main breadwinner passes is generating some heat in
estate inheritance circles, as adult children accuse step-spouses of grabbing
the lion's share of the estate.
The first step is to
make a will and an estate plan and update it regularly. "Inheritances are
less likely to be stolen if they are assigned in a will or an estate
plan," says Masini. "When parents specifically state who gets what
when, in these legal documents, there is less to fight about." Masini
advises families to update their wills every five years if you're over 60, and
every 10 years before that.
Also, blended family
parents should share their estate plan with any adult children, or with the
executor, while they're healthy and alive, Masini says. "The more your
post-death wishes are known, the less likely family feuding over inheritance
will be part of your legacy," she notes.
Another good idea is a
prenuptial agreement. Not everyone is crazy about prenups, but they're highly
effective in nipping estate inheritance wars in the bud, says Richard Winblad,
an estate planning attorney at Winblad Law PLLC, in Edmond, Ok. View entire article here.