Kim Kardashian Talks Blended Family: 'It's Like The Brady Bunch On Crack'



Kardashian sisters Kim, Khloe, and Kourtney stopped by the "Late Show" Tuesday night to clear David Letterman's confusion about their large, blended family.

"I saw the other night you were sitting around at Bruce Jenner's house. Why were you at Bruce Jenner's house?" Letterman asked.

"That's our stepdad, and my mom is married to him and has been married to him for 20 years," Khloe explained.

Newlywed Kim broke it down even further: "He has four kids, my mom had four kids before they got married, so that was eight, and they have two together. It’s like the Brady Bunch on crack."

Kardashian matriarch Kris Jenner, who recently joined the cast of "The Talk," was married to O.J. Simpson's lawyer Robert Kardashian Sr. for twelve years before they split in 1990. She married former Olympian Bruce Jenner in 1991.

Source:http://www.huffingtonpost.com/2011/09/07/kim-kardashian-family_n_952534.html

Estate Planning for Blended Families

In conjunction with Sagemark Consulting, a division of Lincoln Financial Advisors, a registered investment advisor. Mr. Chazin is a regular contributor to PlannerConnect.

In a "traditional" estate plan, each spouse provides for his or her assets (or most of the assets) to pass to the surviving spouse, with the understanding that those assets will go to their children at the surviving spouse's death. This planning approach may work well when the spouses have only been married once - to each other - and the only children involved are the ones they have together.

But it can spell disaster if your family is one of the many today that doesn't fit this traditional definition. For couples with children from prior marriages, a better approach is to sort out what's "yours, mine, and ours" and plan accordingly so neither your spouse nor your children are unintentionally disinherited. Think carefully and objectively about potential conflicts, future needs, and human nature. The following strategies may help in your planning.

Preliminaries
Most estate plans have two goals: (1) to spell out whom should receive assets and (2) to reduce or minimize taxes on the estate. The first goal generally can be accomplished through:
&bullA will (if you don't have one, you should contact your legal advisor and have one written),
&bullPremarital agreements (a will alone may be insufficient if your spouse challenges it),
&bullProper titling of any property you and your spouse acquire during marriage, and
&bullBeneficiary designations for life insurance policies, annuities, employer-sponsored retirement plan benefits, and IRAs.

The second goal is more difficult to achieve. Reducing or minimizing estate taxes - which in 2006 can be as high as 46% at the federal level - without cheating any family members usually calls for more sophisticated strategies. These planning strategies often rely on trust arrangements to make optimal use of the federal credit and the unlimited marital deduction. The credit lets you pass a certain amount of assets to anyone you choose, free of estate and gift tax. This amount - the credit equivalent - is $2 million in 2006. Under the Economic Growth and Tax Relief Reconciliation Act of 2001, the estate tax credit equivalent is scheduled to increase gradually, reaching $3.5 million in 2009. The estate tax is repealed in 2010, but returns in 2011, with a credit equivalent of $1 million. Unlike the estate tax credit equivalent, the gift tax credit equivalent is not scheduled to increase above $1 million.

With the marital deduction, you can give your spouse an unlimited amount of assets transfer tax- free during your lifetime or at death. So, if you leave your entire estate outright to your surviving spouse, no federal estate tax will be due on your estate at your death. By doing so, though, you relinquish any control over who will receive the assets at your spouse's death. Moreover, when your spouse dies, the assets that remain will be included in his or her federal estate for estate-tax purposes. Other strategies might better accomplish your objectives.

QTIP Trusts
One way to make use of the marital deduction and control who will receive your assets after your spouse's death is to create a Qualified Terminable Interest Property (QTIP) trust in your will. With a QTIP trust, the assets are held in trust for the use of your spouse, but pass to whomever you have chosen when your spouse dies - your children, for example. As long as the trust meets these requirements, it will qualify for the marital deduction:
&bullYour surviving spouse must be entitled to all trust income, payable annually or more frequently, for life.
&bullNo person can have a power to appoint trust property to anyone other than your spouse while your spouse is alive.
&bullYour executor (or personal representative) must elect to treat the trust as QTIP property.

Your spouse's estate may have to pay federal estate tax on the assets, but the assets themselves must be distributed as you have directed in your QTIP trust agreement.

A Two-Part Estate Plan
A QTIP trust isn't the answer for everyone, though. In cases where a person with adult children from a previous marriage has a considerably younger second spouse, the children may have to wait a long time before they can benefit from the QTIP assets. A better way may be to divide your estate into two parts. You give the first part to your children, either outright or in a trust that takes advantage of your federal credit. The credit will offset some or all of the tax on these assets, depending on the amount you leave to your children.

The second part of your estate is placed in a trust that qualifies for the marital deduction, such as a QTIP trust. Your estate pays no federal tax on this transfer because of the marital deduction. When your spouse subsequently dies, the assets that remain will be included in his or her gross estate. However, your spouse's credit may be available to shelter all or part of those assets from tax.

Life Insurance Trusts
An irrevocable life insurance trust is another strategy you might use to pass wealth to select family members. With a life insurance trust, you transfer money to the trust and the trustee buys a life insurance policy on your life. The trust is the owner and beneficiary of the policy. At your death, your trustee collects the insurance proceeds and either manages them for your children or other trust beneficiaries or distributes them as you have directed in your trust agreement. As long as the trust is properly structured, the life insurance proceeds won't be subject to federal estate tax.

Lifetime Gifts
Making gifts to children or others now gives you complete control over who will receive your assets and lets you share in the enjoyment of your generosity. Thanks to the gift-tax annual exclusion, for 2006, you can give any number of people up to $12,000 each in assets ($24,000, if your spouse joins in the gift) free of federal gift tax. The amount of these gifts also will be removed from your federal estate for estate-tax purposes. Many people use the annual exclusion to give assets that are appreciating in value. Then, both the current value of the gift and any future appreciation escape federal gift and estate taxes.

When a Business Is Involved
Transferring a business interest requires additional planning. You can pass your business to children or other family members by:
&bullBringing in a child or other relative as a co-owner who will buy your share of the business at your retirement or death,
&bullSelling the business to family members now in installments,
&bullMaking lifetime gifts of company stock to them, or
&bullLeaving stock to the family members who will continue the business.

Each of these possibilities has different tax consequences that you should discuss with your legal advisor and tax consultant.

If you plan to sell your business to a family member, a buy-sell agreement may be the answer to your succession planning needs. A buy-sell agreement:
&bullProvides for an orderly transfer of the business,
&bullPermits family members and other present owners to continue in their business roles after your disability, retirement or death,
&bullAllows a fair market price for the business to be agreed upon today,
&bullProvides a plan to fund the purchase, and
&bullLets you plan your estate and taxes ahead of time.

Life insurance is a popular way to provide the cash needed to complete the buyout. You also can use life insurance to provide your family with the funds needed to pay estate taxes or to provide for your spouse if your business is your major asset and you transfer it to you children.

Everyone's situation is different. The strategies discussed here may or may not fit your situation. Please consult a professional advisor before implementing any of the approaches we have discussed. Even the smallest of mistakes can undo your estate planning efforts and jeopardize your family's future financial security.
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About the Author:
David Chazin is a fee-based financial planner with Sagemark Consulting. His practice focuses on providing his clients with a comprehensive solution to their financial needs. He delivers objective, strategic, and prudent advice designed to help his clients accumulate, retain and transfer wealth. This typically involves developing a customized, fully comprehensive financial plan identifying issues that need to be addressed and outlining steps that need to be taken. David then helps his clients implement the recommended strategies to best reach their financial goals, giving them a great deal of personal attention and adapting their plan to fit their ever-changing lives.

From Single Parenthood to Blended Family - One Woman's Journey

I started my single parent journey a little over 8 years ago in what then seemed a somewhat unconventional manner. I turned 35 and realized that it was very unlikely that I would meet someone to have a family with before it was too late. I did some research and found an organization, Single Mothers by Choice (SMC). I was inspired by this growing demographic of women who, like me, had focused on their careers, hadn't met the right person, and hadn't wanted to compromise for the sake of having a child. All of us still wanted to have children, most of us were college educated and financially stable. All of us were either considering whether to have a child on our own, or had made the decision and were starting the process, or were already mothers. We turned to each other for support and community, and our kids knew that there were others out there like them, in this relatively new family structure.

As I sit down to write this today, I am in a different part of my journey as a parent. Having made the choice to be a parent all those years ago, I made the decision a little while ago to be with the man who I believe is my soul mate, to blend my little family with his much larger one. With that choice has come some challenges, some anticipated, some not really foreseen, but most importantly it has been a time of personal growth. In my journey as an SMC the strengths that I used to help me to be an effective single parent have turned out to be the source of both the challenges and rewards in blending my family with Steve's. They are skills that needed refining and reconsidering. With every challenge, I've learned something about both myself and the rest of my family, and with every challenge my journey has been enriched.

One of the biggest transitions has been to do with communication. My communication style is direct and logical. That worked well for me in my career, and in my much smaller single parent family. As an SMC I didn't have to communicate with anyone else, except for my son. I've always been very open with him, he knows the story of how he was conceived and he's always known he didn't have a Dad. I have answered any of his questions very clearly, partly because the situation was clear, and also because I have always believed that children need clarity.

However, as we've been blending our families over the last 12 months, I've found myself paralyzed at times, and less able to take the same approach. Steve has three kids (12, 15 and 16) and in trying to navigate the transition with them, as well as being sensitive to the amount of change that has taken place in their lives over the last few years, I found myself not quite knowing how to explain our new family structure. Early on Steve's daughter told him that she wasn't sure how to think about my son and me. Steve's response was to listen, empathize, and tell her that he knew she would figure it out. Mine would have been to explain about step parents, step siblings, different kinds of families, etc. Many months later when she asked about the story of my son's conception, I was able to explain about different family structures (single families, blended families, etc), and say that the more people in the world to love you, the better. That approach seemed to be what was needed at that point, just as Steve's approach had been what she needed earlier on. So we all learned something in our respective journeys about finding the right time and right way to say the right thing, and being aware of the impact of that on everyone in the family.

Another example of this is that until recently my son still referred to Steve's children as his friends, so I suggested to him that he might consider them as family, as step brothers and a step sister. He was initially baffled and resistant, which is funny, because he loves them to death, and I know he always wanted siblings. It's really hard, though, to figure out when and how to explain family structures. The approach that I took as an SMC, with only my son in our relatively simple family structure, was in some ways easier (at least when he was younger) than it is to explain our current family structure, what the relationships are, how everyone fits in, etc, and still stay sensitive to the amount of change that everyone has gone through over the last year or more.

Also a challenge is how to define Steve's relationship to my son, a challenge that is different from blended families where there are two parents in each family. It's much easier to explain my relationship to his kids - they have a Mom that loves them very much, I'm their Stepmom, and the roles are clear. Steve's therapist told him before we started living together that he would be my son's Dad, not his Stepdad, because he doesn't have a Dad. Technically all of that is true, but how do you explain to a 7 year old, who you told yesterday that he doesn't have a Dad, that today he does? And how do you do that while also being sensitive to Steve's kids, that their Dad is now someone else's Dad too, someone they're only just getting to know? It's very tricky...children are very perceptive about the behaviors of adults, sensitive to changes, and transitions. It's only recently that we've landed on Steve being his Stepdad, and we're not really sure if that feels right. I also imagine that he will transition into the role of Dad over time, for the reasons his therapist initially pointed out. For right now, though, it gives us language to use with the children, and a role to be in that is at least somewhat clear.

The next challenge on this journey has been discipline. This is always a challenge in blended families and a lot has been written on who takes the lead in disciplining children and step children. It took me a long time to find a way to explain to Steve why I felt we should only ever discipline the kids over the bigger issues together. A very wise friend of mine, also part of a blended family, summarized the challenge really clearly...she said that kids understand that they will always have the unconditional love of their parents and that they know this even while they're being disciplined. My stepchildren don't know that I love them unconditionally, although I do; my son doesn't know that Steve loves him unconditionally, although he does. So if either of us take the lead in disciplining the other's kids, we risk rocking what is still only a fragile foundation of our blended family. Yet if we discipline together, we show the children that we're a strong family unit, that works together, that can't be fractured, even it sometimes takes Steve and I a while to agree on an approach!

So in taking the strengths that I used in my single parent family, building on them, adjusting and refining them, I hope I have been able to use them in our new blended family to start to build a strong foundation for all of us in this new and complex family structure. As well as helping navigate the challenges, this approach has enabled me to appreciate the good times. There is nothing quite as special as coming home to find a bunch of roses on the dining room table, or a single red rose on my pillow. There is also nothing like being part of a larger family...we had Steve's kids for three weeks over the summer and despite the complexity of deciding who should go to which camp, when, etc, they were a great three weeks, and I know that Steve and I wish we saw his kids more than we do. There are some special moments too.... My son, step daughter and I singing loudly to 'Son of A Preacher Man' in my van, Steve's 16 year old (who is autistic) asking me to repeat the word 'Sorry' over and over again because there is something in the way I say it that makes him laugh, and Steve's 15 year old telling me the same joke many times that has a play on the English vs the American pronunciation of certain words...in fact all of them like to make fun of my English accent at times. All of these moments have a very special place in my heart.

So regardless of how one becomes a single parent, that journey is hard, that's for sure. There's also no doubt that blending families is hard. But both are rewarding. In both I've learned something about myself. I am thankful that as I continue on this journey, I continue to grow and learn more about myself and my family and that I continue to be stretched as a person. I know the journey is still only really beginning, for all of us, and I know there will be challenges in the future. It's a good journey though, founded on some good choices, and I'm looking forward to the future ahead.


by Karen Davey

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Blended Family Support Sources

Blending families is never an easy task. Even if everyone starts out viewing the new living arrangement as a positive one, tensions and stresses will arise. It is all a part of learning to live together. Remember, you are taking two very distinct family structures and trying to merge them together to make something new.

There is bound to be some resistance even from the most willing and happy of family members. It is important to realize that every blended family goes through a rough period of adjustment and, usually, it does pass. If your family seems to be having an especially difficult time blending there are some resources available that you can use to help smooth the process out.

Therapy

Family therapy is a fantastic way for blended family members to air their issues in a safe environment. A therapist is not going to take anybody's side and, instead, will provide impartial third party insight into the situation. Sometimes it takes talking to someone who is not emotionally attached to the outcome of your therapy session to help you see what issues are truly laying underneath the surface of your troubles. Many blended families go through a few family therapy sessions as they learn to live together.

Church

If your blended family attends church regularly you might seek some support from within the church's ranks. Your church probably has many different support groups and there is bound to be at least one or two that is geared toward blended family members whether it is for parents who don't know how to step parent, kids who are adjusting to new siblings or even entire families that want to work together to create a harmonious environment. Working with other families that have trouble blending can help you realize that your situation is not unique and the camaraderie you will find in the sessions can give you the boost you need to work through this difficult time.

Family and Friends

If you have friends who have been a part of a blended family or who have had to create a blended family of their own, ask them for advice. Even if you aren't comfortable asking for advice, friends and family members who have gone though your current situation are great sounding boards. Just having someone to talk to who can offer you comfort can do quite a lot to soothing frazzled nerves and stressed out hearts. Your friends will be able to help you figure out what is really bothering you or point out the different triggers for your stress and help you figure out how to deal with them.

The internet and bookstore are also full of resources on how to be a better blended family. Be careful when you consult some of these resources, especially if tension is running deep. Blind third party advice can be soothing and there will be times when you find useful information contained within a book's or website's pages but if you truly need help it is better to seek it in person. Good luck!


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Why You Should Get Blended Family Counseling

All blended families have problems when they are first learning how to live together. It is how you solve your family problems that is important. Letting your anger or your frustration get the better of you is never a good idea, now matter how satisfying it might feel in the heat of the moment. Some families are able to work through their issues on their own while others find that they need help. Some families need blended family counseling to learn how to live as a single family unit.. And here is the rest of it.

There is no reason to feel bad if you find that your newly blended family needs family counseling. All blended families goes through growing pains when they are first learning how to live together and the family dynamics of a blended family are almost always complicated, whether your family consists of one or both spouse bringing children from a previous relationship into the family dynamic. New step parents are unsure of their footing. Newly stepped children are usually worried about where they should place their loyalties (many feel guilty for accepting a step parent and worry that doing so is a betrayal of their other biological parent). Blended family counseling can teach you how to work through your blended family problems and growing pains.

One of the major benefits of participating in family counseling is having access to a trusted individual who will not take sides or play family members against each other. Family members can talk or vent to this individual without having to worry about their words being used against them or repeated to anyone else. During group blended family sessions, the counselor acts as an impartial mediator during disputes: not taking sides and trying to help all sides of a disagreement find common ground. Having someone to talk to who is not directly involved in or emotionally attached to your family is often very comforting.

Another major benefit of taking part in family counseling is the lessons each family member will get in proper communication. Your counselor will teach all of you how to be better communicators and to use those newfound communication skills to help solve and work through your blended family problems. Most people think that they are good at communicating. Very few are. Your counselor will teach you how to listen as well as how to talk and how to work through disputes and stresses.

There is no shame in going through blended family counseling. Most who take part in counseling for blended families admit that doing so was the best thing they could have done for their family. It is important, however, that you understand that taking part in family counseling is not a one time or easy fix for your family problems. Your counselor's job is to work with you and teach you how to resolve future conflict. She is not there to fix your problems for you. Thankfully, eventually, with blended family counseling, you will learn how to do that as a family without needing outside intervention!

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