Many lawyers talk about ‘blended families’ as if they are all pretty much the same. Like, if you’ve seen one, you’ve seen them all. But that is not the case at all.
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How can BDBNs be tailored to address blended family situations?
What if you want to look after your current spouse but on their death or re-marriage ensure that your super death benefit goes to your own children of a previous relationship?
Succession law changes to affect blended families
Queensland has changed the way step children (and de facto spouses) are treated under the Succession Act 1981 (QLD). Superannuation death benefits of an individual can only be paid to eligible dependents. These include a member’s spouse or de facto spouse and child.
Insurance Bonds avoid bequest trap
An often overlooked investment can give parents in blended families certainty that their nominated beneficiaries will receive their bequest without challenges from disgruntled family members.