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Note: Nothing in this publication is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisors regarding the same. [See IRS Circular 230.]

Content: Copyright © Integrity Marketing Solutions

Volume Ten Number Five May 2013


Estate Planning for Blended Families


Blended Family Basics

Blended Family Basics    Times have changed. In the new millennium, blended families now outnumber traditional nuclear families. In fact, one of three Americans is now a stepparent, a stepchild, a stepsibling, or some other member of a blended family*. And the number is likely to grow, based on current statistics and trends.While most of us don’t live like Hollywood celebrities, Hollywood trends often reflect magnified versions of cultural trends. For example, when Kris (Kardashian) and Bruce Jenner married in April 1991, they each had four children from previous marriages. Kris had Kourtney, Kim, Khloe and Robert from her marriage to the late Robert Kardashian and Bruce had two children (son Burt and daughter Casey) with his first wife Chrystie Crownover and two sons (Brandon and Brody) from his marriage to Linda Thompson.

Learn more about Blended Family Basics ...

Estate Equalization

Estate Equalization    If your family is a blended family, one of your estate planning challenges is to make sure each member of your blended family is treated fairly and equitably. You will want to make consideration for your current spouse, your own children and perhaps even your stepchildren. And “fair and equitable” does not always result from a simple “equal shares” approach. Not to mention that some assets, such as a family or vacation home, are quite difficult to split into “equal shares.”

Learn more about Estate Equalization ...

Did You Know?

Did you know that:

  • While three in ten Americans DO have a plan, the average age of a will coming into a law office for update or probate is nearly 20 years?

  • A Power of Attorney of similar vintage may be rejected by banks and other third parties?

  • In three out of four cases, a Health Care Directive (also sometimes called a "Living Will") is unavailable when needed?

  • Ten out of ten Americans MISTAKENLY believe that life insurance proceeds are automatically exempted from Federal Estate Tax?

  • The Wills of most married couples control ONLY personal effects?

  • There are legitimate means of leveraging the $13,000 annual gifting exclusion, of avoiding capital gains tax on super-appreciated low-yield assets, and of ensuring that 99% of assets flow to the next generation in a thoughtful, protected manner?

Quick Tips

Getting Rid Of Your Old Hard Drive "Securely"

Do you have any old computers sitting around? Perhaps you are getting ready to upgrade, because “old faithful” is on its last legs. Regardless, if you are intending to dispose of a personal computer to the junk pile, a charity or some other third party, then watch out! You may be giving all of your private, confidential data to strangers.
According to data safety experts, it can be nearly impossible to completely clear your hard drive without professional assistance. While there are some commercially available “tools” that promise to completely wipe your hard drive clean, you can’t be too careful!
After you have properly backed-up all of the data you want to keep from you old hard drive, one of the surest methods to securely dispose of the old hard drive is to take a good, old-fashioned sledgehammer to it. For step-by-step instructions, type the following into your favorite search engine: “How to dispose of a hard drive.” Alternatively, several online blog experts recommended a less violent end to your old hard drive by using a power drill. In the end, as with most of life, the choice is yours.

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