All too often young families avoid or put off executing Wills and other estate planning documents because they don’t think they need them. Ironically, they are the very ones who do need estate planning. A Will allows you to name the Guardian of current and future-born children. Testamentary Guardianships are automatically issued by the probate court. There is no court process involved, so no family drama over who will take care of your children if both parents are gone. Moreover, your Will can set up a simple testamentary trust for minors to ensure that the money you pass to your children is protected until they are ready to inherit it. To ensure your loved ones have no worries, it is also essential to go through your beneficiary designations on insurance, retirement and other assets.
Attention – parents with grandchildren:
Estate planning gift certificates make great Christmas and Birthday gifts for our children!
-Kathryn Bedell, Esq.