Monday, August 29, 2016
The current modern family can consist of adopted children and assisted reproductive technology children but may also need surrogates or donors to help with reproduction. It is important to have a proper estate plan to ensure that these children benefit and donors or surrogates do not. Estate planners should also consider posthumous reproduction, determining things like time limit and availability. Additionally, divorce and blended marriages can create further controversy for families trying to create an estate plan. Ultimately, estate planners must consider shifts in family definitions to ensure the effectiveness of a family’s goals.
See Bobbi J. Bierhals & Kim Kamin, Modernizing Trusts for Modernized Families, Wealth Management, August 11, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.