Estate Planning for Families with Young Children

The most important time to have an estate plan is when you have children and you want to ensure that they are taken care of if something happens to you. Whether you are a single parent, married, or in another type of relationship, you want to ensure that your children are taken care of both physically and financially in the future. Even if your children are over 18 they may not be able to handle money that they will inherit wisely. We can make a plan to care for your children no matter their age.
We guide you through the process of determining the right person to take care of your children (a guardian) and the right person to take care of their money (a trustee). We ensure that your children need a temporary guardian the process will be smooth and efficient.

Families with children typically receive a plan that includes the following:

Will with Contingent Trust: If something happens to you (or both of you, if you are married) then the will establishes a trust to ensure that the money is handled and spent wisely to benefit your children. You can continue the trust to any age you like, and put in terms to ensure that the trustee has flexibility to both protect and support your child.

Designation of Guardian: If you are injured or otherwise can’t care for your children, but you are still alive, your children will need a temporary guardian. We help you identify the best person to care for your children if you are temporarily unable to do so.

1. Living Will
2. Financial Power of Attorney
3. Medical Power of Attorney
4. Medical Directives
5. Review of your beneficiaries on accounts, and guidance on modification if necessary
6. Detailed guidance detailing when each document is appropriate and how they should and can be used
7. Guidance on proper titling of all assets
8. Guidance to later fiduciaries (powers of attorney, personal representatives, etc.) on what to do when something happens to you.

We can also help with trusts, generation skipping, and other asset planning needs. More documents are utilized when they are appropriate. We tailor our services to the client.

Contact us today to set up a telephone consultation so that we can work together to help you or your loved one.

“Meggin was very thorough and spoke in layman’s terms in my first meeting with her. She was patient but kept me to the deadlines of settling the estate. She kept in touch with me and the heirs through email, phone, and post contacts in a timely but not intrusive manner. She made helpful suggestions and explained next steps for her and for the client at each phase. I recommend her strongly for anyone who is the personal representative for an estate.”