Record Online: “The world is a different place today than it was in 1950. Back then, the majority of families were similar in makeup: father, mother, kids, dog, house and car — the Ozzie and Harriet paradigm. Elder law estate planning in those situations often followed very predictable patterns. The surviving spouse received the assets after the first death, and the children split the remaining assets when the second parent moved on.
Family situations have changed, and “blended families,” those with children from a previous marriage, are on the rise. Plus, the law has changed, with different tax situations, legal tools, long-term care concerns and other realities forcing elder law estate plans to take more into account.”
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