Last year an issue of ADVISOR.CA (August 3, 2016) carried a fascinating article about the Blended Family. According to the 2011 Canadian census, stepfamilies with children represent approximately one in eight of the total.
The evidence suggests that while most blended families live contentedly and co-exist happily along with one another, there remain some issues that can lead to unanticipated difficulties if left unaddressed.
The issues, though easy to resolve, mainly occur in the areas of financial and estate planning – areas in which we at The Ritcey Team have considerable expertise. What follows is a brief overview of five issues that you should look out for: