Donate
Description
Blended families present distinct financial planning and estate planning challenges that require a nuanced approach. Financial planners must navigate complex family structures, competing financial obligations, and potential conflicts over asset distribution. This session will explore theoretical foundations, including Kin Selection Theory, to better understand financial behaviors in blended families. Participants will gain insights into estate planning strategies such as QTIP trusts, prenuptial/postnuptial agreements, tax considerations, and wealth transfer planning. Additionally, this session will provide practical financial planning strategies to help professionals support their clients in structuring financial and estate plans that align with their unique family dynamics.
Learning Objectives
By the end of this session, you will be able to:
1. Identify key financial and estate planning challenges unique to blended families.
2. Apply estate planning tools, including trusts, prenuptial agreements, and beneficiary designations, to manage competing interests in blended families.
3. Utilize theoretical frameworks and financial psychology exercises to understand financial behaviors in blended families.