Young Families & Estate Planning

Estate

planning is not only for the elderly and the rich. Estate planning comes in all shapes and sizes, and should never be approached with a one-size-fits-all mentality. Moreover, estate planning is normally not a one-and-done type of occurrence because life circumstances often change. Young families with minor children should always consider having a basic estate plan in place to help protect their children. For most young parents, writing a will is less about leaving or protecting their assets than it is about naming guardians for the kids. The guardian you name in your will is the person who would take over if both you and your spouse could no longer raise your children. If you do not make a will and appoint a guardian however, the court would have to choose someone without any guidance from you. The most common choice is a family member, but what if you would not trust or want certain family members to raise your children? What if you would prefer that a close friend step in as guardian? Unfortunately, the court would have no way of knowing unless you declare so. Call our office today to set up a free consultation to discuss setting up a basic estate plan for you and your family.