Nothing changes life more than welcoming your new addition or additions home. You spent nine months preparing the room, going to doctor’s appointments and seeing your little one grow in some of her first pictures. You researched the safest car seats, high chairs, and bedding. You read the pros and cons of formula, and now here you are—parents. The one issue I am sure you missed during what is probably the happiest time in your life is considering an adequate estate plan to care for your child in the event you cannot.
It seems very silly to say out loud, but with all my legal training, I did not consider estate planning until a more seasoned attorney at firm approached me about my estate plan now that I welcomed my son home. I appreciated his concern and immediately pointed out that he, unlike me, was a partner at a major law firm with significant assets, and he had an actual estate to plan.
With the benefit of hindsight, I now know that every parent, no matter their means, needs some form of estate planning to care for their children in the event the unthinkable occurs. A properly drafted will, in conjunction with adequate life insurance, ensures that your children will have the means to reach their full potential. Whether you are brand new parents or have older children, there is time to properly prepare an estate plan for all possibilities. Estate plans exist to fit every budget.
Affordable peace of mind is a phone call away.