SPEAK WITH AN ESTATE PLANNING LAWYER IN SYDNEY

Estate planning for blended families can be a delicate process, requiring thoughtful consideration and expert guidance. These families often face unique challenges, particularly when balancing the need to provide for a new spouse while also ensuring children from previous relationships are protected.

Achieving fairness in these situations can feel like a complex puzzle, and it’s common to have questions such as:

Common questions asked are:

• How can we make our estate planning fair?
• What happens to my spouse? I’m contributing more than my partner to the marriage.
• How do I prevent a claim on my estate?

At Kells, we understand these concerns and provide clear, practical solutions to address the complexities of estate planning for blended families. Our approach focuses on safeguarding your wishes, protecting your loved ones, and reducing the likelihood of family disputes. We work with you to create an estate plan that ensures your beneficiaries receive what you intend while promoting harmony during what can be an emotional process.

A Mutual Will agreement is a legally binding arrangement designed to ensure that both parties commit to specific terms in their Wills. This agreement is made at the same time as the Wills are signed and includes the following provisions:

• Both parties agree to have their Wills prepared on mutually acceptable terms.
• Neither party can revoke or amend their Will without the consent of the other.

Once one party passes away, the surviving party is required to uphold the terms of the agreement. This helps protect certain beneficiaries, such as stepchildren, from being excluded from the Will in the future.

While Mutual Wills can be a useful estate planning tool for blended families, they also come with limitations. It’s important to discuss these with a lawyer who has experience in estate planning for blended families to determine if this option is right for your circumstances.