Interview: Perspectives on Step-Parenting

22137253_10210219791437850_1362975869233229595_o
My crazy wonderful blended crew!

Building a blended family after a divorce can get complicated. Not only is becoming a step-parent a major emotional commitment but now add in the finances and the dynamics involved in supporting this new expanded family. As a step-parent myself, I know all about this difficult and wonderful journey.

I spoke with MassMutual about the financial concerns when tackling step-parenting. While some tips are obvious (eg. get life insurance), other ideas are more nuanced (consider creating a trust and updating your will).

The article addresses four things that new stepparents should do:

  • Decide how you and your new spouse will manage household finances.
  • Update beneficiaries on insurance policies, bank accounts, and brokerage accounts.
  • Secure or revise life and disability income insurance policies, if needed.
  • Learn how your changed situation will affect your taxes.

You can read the article here and discuss your step-parenting journey in the comments.

 

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s