The estate plan parents need
Our young family program is our solution for parents with young children. The program is designed to meet the key estate planning needs of parents with young children in a straightforward, accessible way.
Parents with young children have a few key estate planning needs. First, in most cases parents need a distribution plan that includes trusts for their children. We were all 18 once, and ensuring that a child’s funds would be placed in a fund to be managed by a third party until the child turns 25 (or another age chosen by the parents) prevents children from receiving an inheritance before they are ready for it.
Second, parents need to name guardians for minor children. If children lose their parents, they will generally have two sets of grandparents, two sets of aunts and uncles, perhaps a set of godparents, and perhaps family friends that their parents have asked informally to take their children if something happened to them. By naming guardians in their will, parents avoid confusion or disagreements over who the guardians should be.
Third, as with other plans, it is important for parents with young children to choose capable estate administrators and people who can manage money or make health care decisions for the parents if they are unable to do so.
Finally, parents with young children have many demands on their time and resources, and need a convenient process at a price point that makes sense.
A process built for busy parents
As with all of our estate plans, all plans for parents of young children start with an hour long no-obligation consultation. This can be a traditional in-office consultation, but it can also be a zoom call that doesn’t require parents to miss work. We follow up with drafts, followed by a short in-office meeting to review, sign, and witness documents. For married couples, both spouses must be included on the initial meeting or zoom call.
Because we recognize the importance of this planning, we offer a discounted rate ($450) for parents (including married couples or single parents) who need a simple plan, have minor children, and are able to complete a first draft during the initial meeting. Please mention this special rate if you call to schedule.
Ready to get started?
Call us to make your appointment today!