Estate Planning for Parents with Minor Children
As parents, we love our children, but raising them is hard work. They do not come with a users guide or instructions. Raising kids is mostly on-the-job training. Lots of people (your parents, siblings, friends) have opinions on how it should be done. For most of us, it was like being taught to swim by being thrown in the water. No matter how much you have been told about how to swim, the first time you hit the water it’s a shock.
Parents of minor children are so busy raising their kids, working and maintaining the household, they often neglect to plan for some of life’s “what ifs,” many that we don’t like to think about. Like, “What would happen to your kids if you went out to a movie, leaving them with a babysitter, and did not come home because you were in a serious accident?” Most parents never implement a plan for that “what if” even though if it happened, the lack of a plan would have enormous, perhaps tragic consequences for their kids.
And here’s some eye-opening information – having a Will does not protect your kids if the unthinkable happens to you.
For parents of minor children, we’ve put together a special package of estate planning services that helps you address your most important questions. We help them plan for who would help take care of their kids in the short term, the long-term, and how the money that they’ve left behind could be used to benefit their children the most. We make sure that their children’s inheritance is not subject to a later divorce, or some other catastrophe.
You’ve hopefully taken the step to have life insurance to cover the cost of raising your children if you died suddenly. That’s good, but it’s only half the work. Equally important, you need a comprehensive estate plan to make sure that you don’t do more harm than good by just leaving a pile of cash behind if you were gone.
If you need to plan, call our office at 707-553-7356 to set an appointment today or contact us here.