Expecting Parents

  Congratulations on your upcoming bundle of joy!
            As preparations are made for a new child to enter your home, you must consider (or re-consider) your estate plan.  Much like a birth plan, having an estate plan in place makes for a significantly more comfortable transition into parenthood.  And you should begin getting your legal and financial house in order long before your child is born; the sooner you do, the easier the transition will be.           
            Although the main focus of expecting parents is the immediate arrival of the child, it is the ideal time to ensure that the child will be entering a world where it will always be cared for, even when the parents are no longer around.  Estate planning for expecting parents is all about preparing for the child's life long care.

            We understand that the last thing expecting (and excited) parents want to think about is not being able to be there for their child, but it is an ever important issue that must be addressed.  And we will be here for you every step of the way. 

            If you don't have an estate plan set up it is imperative you begin the process as soon as possible.  If you have an existing estate plan in place, now is the time to have it reviewed and updated to reflect your joyous life change.  It is in your (and your) child's best interest to be prepared and protected against the unknown.          
            For so many reasons, a comprehensive estate plan is what expecting parents need.  A simple Will is simply not enough, especially when you have children.  Without certain protections in order, any assets you leave behind will not be utilized to their fullest potential in order to benefit your family.  Besides, there are guardianship concerns, money distribution concerns, and moral asset preservation concerns that a Will alone is not equipped to handle. 

            As a responsible parent, you want to make sure that you leave behind as stable an environment as possible for your children.   

            In addition to putting your estate plan in place and setting it into motion, we will put you in touch with our network of professionals in order to guarantee that, as a team, we have set up the right plans, procedures, and insurances to make certain that your family is protected and taken care of when you are no longer around.
        For more information on the importance of estate planning for parents, visit our Kids Protection Planning page.
Just a Few Considerations for New Parents
  • If something happens to you both, who will be the child’s guardian? What if, for any reason, that person cannot serve as a guardian?
  • If something happens to you both, who will make financial decisions regarding the child’s inherited assets (i.e. who will be the custodian)?  Where will those assets go? What would they be used for?
  • How do you want your child to receive their inheritance? All at once when they turn 18? At different stages of life? After college?
  • Does your child have special needs? Think of all the additional issues that arise in that scenario.
  • Are there any relatives you wouldn't want taking custody of your child?
  • Is one of the parents going to be a stay-at-home parent? What if something happens to the working parent and the sole stream of income is halted?
            Call us at (305) 860 - 8338 to schedule your Family Wealth
Planning Session and get started on preparing for your child's future!