Estate Planning Is Not Just For Grown Ups
More recently, I have focused my outreach on young families. Quite simply, it is the demographic about which I feel most passionate.
Q: What is the reality of being a parent?A: It is unlikely that a catastrophe will befall the parents, but unforeseen things can and do happen, and we have a duty to continue to provide for and protect our children, even when we are no longer physically able.
Q: Why are Wills beneficial for parents?A: Wills are the best way to ensure that our children are cared for by the individuals we select. It is the best way to ensure that a child's inheritance is funneled into the proper trust and managed by an appropriate trustee. Responsible and caring parents always consider the needs of their children, and that includes contemplating who will care for them as guardians, if they no longer can.
Q: What is another important thing young families should know?A: Powers of Attorney documents are also important for young families for the same reasons noted above. Naming spouses and alternate agents to manage finances is a person's best prospect of avoiding guardianship litigation.