Ending a marriage is one reason why many people choose to revise their estate plans, but there are other circumstances in which someone may find that it is necessary to make changes to their estate plan. For example, someone may adopt their spouse’s child after entering a new marriage, or they may adopt a child because they are unable to have kids with someone they have been married to for years. Either way, adoption can necessitate estate plan revision and it is pivotal to cover every base in this regard.
First, every adoption is different, and some children have unique needs. For example, if the child you adopt has special needs you should pay special attention to this fact and you may want to set up a special needs trust. If you want to ensure that your adopted child (or children) do not receive any assets until they turn 18, it may be important to include this in your estate plan. Moreover, appointing a guardian may be essential if your adopted child is a minor.
You may have biological children as well and it could be necessary to take them into consideration when making decisions related to your estate plan and your adopted child. Adoption has been a highly beneficial life change for many families, but it is important to make sure that every base is covered. It may be helpful to talk about your estate plan with your spouse and with a legal professional as well, in order to ensure that you make the right decisions.