Estate Planning Essential for Young Famiilies

Estate Planning Essential for Young Families

As a mother of two boys under the age of five, I know how important it is to make sure my estate plan is completed. It is essential for parents with children under the age of 18 to make sure that they review and possibly update their documents every two years.  Below are just some of the questions that should be answered when you are preparing your estate plan.

  1. Who should take care of my children if I’m injured and unable to care for them?  Should I have a power of attorney prepared on behalf of my children?
  2. Who should care for my children’s wellbeing and manage their assets if I am no longer there to care for them?
  3. What assets would pass to my children if something happens to me and how would they receive these assets?  Should my child be named as a contingent beneficiary or should I name a Trust as contingent beneficiary?

Laura M. Trujillo
ltrujillo@mclawfirm.com
994-2000

 

Disclaimer: This blog is for information purposes only. Legal advice is provided only through a formal, written attorney/client agreement.