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00:00:03 That creates a lot of complexities. Typical family, so husband, wife, the kids are all theirs. The typical estate plan says, when I die, give everything to my spouse. And if my spouse is not there, then give everything to my kids. Typically, you’d set up some form of trust to manage the money until the kids are old enough to manage it on their own. Great, no problem.
00:00:28 In a blended family, you have some kids are mine, some kids are yours. I brought assets into the marriage. You brought assets into the marriage. What do we do? Still, the typical plan is, well, when I die, everything goes to my spouse. And then now how do you divide it up amongst the kids? So if I die and everything goes to my spouse, if she wants to give it all to her kids, then I can’t stop that. There are a couple of different mechanisms
00:00:55 for making sure that my kids get their share of my stuff when she passes. And you also have the situation of you definitely want to do a will because if you don’t, then the law in Colorado will be that your kids will get something even if you really intended for her to get all of it. So this is a difficult situation.
00:01:19 You should give me a call. We’ll talk through your situation, see what kind of solutions work best for your situation and go from there.