Nothing in life is ever certain. If you have recently decided to start a family, you may wonder what you do to ensure that your children will receive the love and care they need if something should happen to you or your spouse. While thinking about estate planning at this time can seem like an odd thing to do, it is extremely important, and necessary for new parents. It is the only way to ensure that your children will have someplace to turn should the unthinkable happen.
A comprehensive estate plan allows you to clearly state who you would like to take care of your kids. You will be able to select a family member or friend who can step in for you, and this can help prevent a lot of problems in the future. You will also be able to establish a trust, which will allow you to ensure that your child has financial support while he or she is growing up. The trust can be used for basic every day living expenses, as well as big ticket items, like college or any healthcare needs that they may have.
But an estate plan is about more than just guardianships and trusts. It also allows you to determine exactly what sort of medical care you should receive in the event that you are unable to express your wishes. This can help your loved ones avoid difficult decisions. Some families may experience severe problems when there are disagreements about the care that should be provided in these types of situations.
Having a well thought out plan will help everyone keep things organized and save a lot of time and can even help keep things from going into the court room. You want to make things as easy as possible for everyone at this time, and you may wish to have discussions with those who you are naming in your estate plan to perform important roles. This will help them understand their role at such a challenging time, and know exactly what to do when the time comes.
An experienced attorney can serve as your guide as you contemplate your estate planning needs. Your attorney will discuss what you need to ensure your plan is complete, and will prepare all of the necessary documents to establish your final wishes. This will allow you to feel confident that your family's future is secure, and that you will not leave an unpleasant situation behind.