Families with Children (Part 2 - Who Needs an Estate Plan Series)
This is part two of a series of posts on why everyone needs an estate plan. For this post, I'll discuss families with children.
As parents, we want to protect our children and make life as stress-free as possible. Estate Planning allows you to designate how your children will be cared for in your absence, and most importantly by whom!! Without a written plan, the state will decide who will care for your children. You can set up your plan to have your assets used to care for your children the way you would like – providing for their education, and lifestyle to be kept as close to what they are used to as possible, without having to create a financial burden for those caring for your children.