News of yet another high-profile family fallout over money highlights the unique strains on so-called “blended families” – households made up of different families brought together by new relationships – when it comes to cash.
Jo Carr-West, a Partner at Hunters, is an accredited mediator and a member of the Family Mediators Association and Resolution. “Financially supporting a family from a previous relationship is often a source of conflict during the course of a relationship, a problem that many blended families struggle with.”
“Furthermore, if the new relationship breaks down it can cause resentment that there is less money for the second family. Tensions may further grow if previous partners perceive that their children might not have the same things as the other family; examples include holidays, school fees, expensive hobbies, etc. Being seen to prioritise one partner and set of children over the other can often cause acrimonious feelings in both past and current relationships.”
Ms Carr-West says: “Litigation over a disputed estate is expensive, and can be more bitter than any hostile divorce. The problems can be more acute in a blended family.”
“The best way to guard against a family falling out over an inheritance is to make sure that you have an up-to-date and properly drafted will that has been carefully thought through. If there is a blended family, it can help to avoid problems later if the will is as even handed between them as possible.”
Read the full article in the Independent here.