Navigating wealth in a blended family

Authored by the Merrill Center for Family WealthTM


Managing wealth within families can be complicated, and even more so for families experiencing transitions like divorce and recoupling. When people with children from previous relationships remarry, it’s inevitable that factors such as paying for children’s education, establishing joint accounts, and overseeing spending habits will present new challenges. Working through these new family dynamics requires a careful plan rooted in open communication and understanding.

At the Merrill Center for Family Wealth™, we have the experience and resources to help facilitate conversations with recently blended families who need help dealing with the complexities that wealth often brings to relationships. Our new whitepaper, Navigating wealth in a blended family, follows Avery and Brianna Smith-Cedar as they face challenges in agreeing on how to manage money, set expectations with their children and plan for the future. This article shares how the Center facilitated a meeting to help Avery and Brianna establish a new family culture by understanding factors like money messages, expectations and shared values. With the Center's guidance, Avery, Brianna and their children, created a clear roadmap for the future, based on their common values.

If you'd like help navigating the complexities of wealth in your own blended family, contact your Merrill private wealth advisor, who can leverage resources and insights of the Merrill Center for Family Wealth™.

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