Many people would agree that updating your will is necessary after an addition to your family. However, expanding your family does not always mean the birth of a child. For many, it could mean the joining of stepchildren and a new spouse after remarriage.
If you have an existing will, you must update it if you want your new children to inherit. If you do not have one, it is crucial to create a will that will accommodate your blended family. Below are some important things to know.
Why you need to include your stepchildren in your will
Stepchildren do not automatically inherit from your estate unless you include them in your will or adopt them. This is because the law does not consider them your legal heirs, even if you marry their parents.
If you die without a will, the probate court will distribute your assets according to Washington intestacy laws. Surviving spouses and biological or adopted children inherit first. If there are none, the line of succession includes parents, grandparents, siblings and other next of kin.
Unfortunately, unadopted stepchildren are not part of this line. One way to include them is through legal adoption. However, naming your stepchildren in your will may provide more security. It can also give you more control over the distribution of your assets.
The benefits of tailoring your will for your blended family
Having previous marriages and children with other spouses can complicate estate planning. This is why updating your will is crucial. Tailoring your will according to your blended family’s needs will help ensure:
- Legal recognition: Aside from adoption, a will allows you to legally recognize your stepchildren as beneficiaries.
- Equal treatment: If you wish to do so, you can make sure stepchildren have equal rights to your estate as biological children.
- Specific bequests: You can leave particular assets or amounts to stepchildren. This will give you full control of who gets what.
- Guardianship: If your stepchildren are minors, you can nominate a guardian for them in your will.
Knowing you will provide for all your children after you pass can bring significant peace of mind. However, planning your will to accommodate a blended family can become complicated. Legal guidance may be necessary to help outline all your wishes clearly, ensure the will is legally sound and protect your legacy for years to come.