Stepchildren
If you divorce and remarry, you and your partner may need to figure out how stepchildren factor into your finances, with regard to both day-to-day spending and longer-term plans such as higher education. One in 10 children in the U.K. now lives with at least one stepparent, according to the Office for National Statistics. Given the complexities of making financial decisions in blended families, it may help to hire a financial-planning firm with expertise in this area. Such blended families are far less prevalent in traditional societies such as India.
