Statistics show that over 50 percent of families in the United States are part of a “Blended Family.”  Here, both spouses have brought children from a previous marriage into the new union. As you can imagine, whenever there’s a merger of people into a new family dynamic, there are new challenges which must be addressed.

Blended family spouses have more people to be concerned about, as step-children are now part of the picture.  It’s an added responsibility, even if the children are now adults.  After all, your children (and step-children) are still considered “kids” no matter how old they may be.

If you’re approaching 70 (or already aged 70-75) and in a blended family, it’s important that you begin making preparations for how you want your assets to be allocated. Have you prepared for potential long-term care costs, such as a nursing home or an assisted living care? Too many times over the years I’ve witnessed assets (homes, bank accounts, and cars) liquidated to pay for nursing home expenses, which in Ohio can run as much as $10,000 per month.

In order to take stock of your present situation, I invite you to take this Blended Family Quiz to get a good idea of what you needs are.  Please answer ‘yes’ or ‘no’ to the following questions:

Do you want to make sure your spouse, children and step-children are well taken care of, in case you need potential nursing home or assisted living care?

Is it important that any of your assets aren’t lost because of having to pay for expensive nursing home or assisted living care, so you can leave a financial legacy to your blended family?

Would you like to take positive steps so that your spouse, children and step-children are looked after in case of your passing?

Do you agree that by being part of a Blended Family it’s time to update things such as your Power-of-Attorney and/or asset protection strategies?

Have you delayed putting together any kind of asset protection program in place, and realize now’s the time to take action?

Take a moment and reflect on your answers. This will tell you the present state of affairs within your blended family, and your present needs to make certain your loved ones are looked after.

You can make sure any future nursing home or assisted leaving expenses don’t eat away at your assets, plus leave a financial legacy to those you wish. We have specific asset protection programs plus unique insurance products that are well worth your attention.

Contact us at The Stano Law Firm located at 6650 Pearl Road in Parma Heights to schedule a personal, free no-obligation consultation to see what we can do for you! We can be reached at 440-888-6448. Act now because space is limited, and the free consultations fill up fast.