Finance Spousal trust – a formal legal arrangement in which the surviving partner retains the right to use the home during their lifetime, but ownership is placed into trust with the goal of eventually passing to one or more beneficiaries. Because the trust is a separate legal entity, it remains outside the estate of the surviving partner (and, therefore, shielded from creditors), while any upkeep, maintenance costs or taxes are payable by the trust itself. Life interest – similar to a spousal trust. The surviving partner can live in the home for as long as he or she likes, at which point the asset passes to heirs. With these arrangements, it’s common for the partner living in the home to take care of repairs, taxes and similar costs. Co-ownership – a different form of joint ownership, in which one partner’s share is distributed to his or her heirs upon death, while the other partner retains his or her original ownership interest. This is a viable option for blended families in which all parties get along. Sell and divide the assets – perhaps the cleanest way to deal with the family home: upon the death of one partner, the home is sold and the proceeds divided among the surviving spouse and heirs. Depending on your individual circumstances, any of these approaches can work. Keep in mind, however, that some of them require specific legal documentation. Make sure to consult with an experienced lawyer if you’re interested in pursuing them. A final word for blended families And that brings up an important point. The above issues and challenges are very personal, and solutions that may be exactly right for one couple may be exactly wrong for another. But whatever solutions you’re considering, there’s a good argument to be made that they’re better addressed with professional help. By working closely with a qualified financial professional ‒ preferably one experienced in dealing with blended families ‒ you, your partner and your children and grandchildren can start meaningful dialogue, address significant financial and family challenges and build a long-term strategy that protects everyone in your family. CSANews | SUMMER 2026 | 31
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