How to Navigate Wills in the Era of Found Families

There was a time when the idiom ‘Blood is thicker than water’ conveyed the indisputability of familial bonds. In today’s day and age, the definition of ‘family’ or what can be considered as family bonds has undergone tremendous changes. 

This is partly due to changes and a broadening in the scope of societal structures. Traditional families gave way to the modern nuclear family unit. Even within nuclear families, there are now non-traditional families. By definition, a ‘family’ is no longer restricted to those established by bloodline, i.e. biological lineage. 

Found family
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A ‘found’ family or chosen family is a group or network of people you hold closer than your biological family members.

Simply put, found families are a tapestry woven by the common thread of shared experiences, being in similar situations, the same age group, sexual orientation, belief systems, etc. It’s like one big happy friend group or community unrelated by blood. If recent studies are anything to go by, 48% of the country has a found family; 65% no longer believe in a normal blood-ties-bound family unit. 

Irrespective of your family type, writing a will is one of the most important things you will do in your lifetime. It will determine how your finances & assets are distributed among your remaining family members. If you pass away intestate, i.e. without writing a will, state laws will come into effect. 

It’s worth noting that despite the broadened scope of defining a ‘family,’ legal definitions regarding found families haven’t changed. State laws will prioritise biological heirs for succession unless explicitly stated in a will. Consequently, it becomes a little tricky to navigate the landscape of inheritance & wills regarding found families.  

Fortunately, you can easily write your will online these days and reduce the hassle of extra costs and paperwork. Additionally, these services are easily accessible and often come with ready-made templates. 

However, writing a will online is better suited for those with limited assets and an uncomplicated & undisputed line of succession. It’s also not applicable to digital assets, which would require meeting a solicitor. So make sure you do your due diligence as applicable to your situation. 

With this in mind, let’s see how you could secure the financial future of your found family members through a will.

Consider reviewing your assets before you sit down to write your will. It is even more reason to do so if you hold a diversified portfolio. While traditional wills include personal belongings, business investments, life insurance, and real estate, the definition of assets is dynamic and ever-changing.   

With the introduction of crypto-currencies and intellectual property rights, our government is considering including this in the legal definition of assets. They would be labelled as digital assets. 

It’s important to stay updated on these legal changes and what this could mean for your will. That’s why it’s recommended to review your assets and written will every 5 years. Doing this will help factor in legal changes and accurately assess the value of your estate.

Current laws do not recognise found family members legally. As a result, if you’re writing a will to include your found family, there are a few things to consider. 

First and foremost, your will must have absolute clarity regarding your relationship with your found family member(s). This must be explicitly stated in your will. In fact, it’s important to clarify this with the executor of your will, whether that’s a family member or a solicitor.  

Secondly, your will must be legally enforceable and not conflict with existing laws. Any conflict with existing laws would open it up to legal dispute.  

Thirdly, they must comply with all legal requirements of writing a will. This includes the presence of two impartial witnesses who are not beneficiaries and do not have any conflict of interest.

Navigate Wills
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A letter of wishes acts as a supplement to a will. While these are not legally enforceable, they’re like a checklist for your executor. It’ll help them honour your wishes concerning your found family members and can be very crucial in unique situations. Additionally, it could also include care instructions for their physical safety, financial security, and overall well-being.

However, if you don’t want to deal with the legal hassles of a will, you could consider setting up a trust for your found family. This avoids the lengthy probate process that usually comes with wills. It’s also known to be a more flexible tool for asset distribution and is particularly suited to non-biological legal heirs. Furthermore, trusts also minimise estate taxes, protect your assets, and offer a more grounded way to manage them.  

Your life is a cocoon closely knit by your relationships, and these relationships hold emotional value well beyond what money can afford. Similarly, your found family is the bedrock of your life, and they deserve to be told how much they mean to you. 

That’s why including them in your estate plans is an important step. Not only will this assure them that their welfare is your priority, but it will also bring you much-needed peace of mind and satisfaction. 

If your will includes your biological family, discussing your ‘Will’ with them might not be a straightforward affair. They’ll likely struggle to understand the inclusion of your found family in estate planning. As a result, ironing out this discomfort is important to ensure your will can be executed smoothly.

Your legacy is more than just your money. It’s also things that hold emotional value. Consider leaving items or personal belongings of emotional value to your found family. From keepsakes and mementoes from trips taken together to old photographs and books – it could be anything that captures a cherished memory.

You can also include making a charitable donation from your estate to a cause that’s close to your ‘found’ family, allowing you to leave a meaningful and impactful legacy behind.

Acknowledging your found family in a will is a great way to honour your bonds with them. It’s as much about getting peace of mind as emotional fulfilment. That said, while your found family is the focus of this article, it is important to look out for your biological family as well. 

Keeping an open line of communication could also lead to a better understanding of your choices & decisions. As you consider making a will and plan for the future, remember that your legacy is not what you do for yourself but what you do for others.

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