For young people, estate planning is not often a priority. It is generally thought of as something for grandparents and the elderly. The truth is, however, that life can be very unpredictable. This is particularly true when we have children. We expect to be around to see our children grow, graduate from school, and start a family. While you will likely be around to see these milestones, there is a small chance you may not. We never know what is in store for us or what is lying around the next corner. What if something should happen to you? Who will care for your children? How can you continue to provide for them if you are gone? Having children is a gift and when it comes to their future you should expect the best but you should be prepared if life throws you a curve.
Do you Need a Will when you have Young Children
While you may have never considered writing a will before, creating a will is the first step in planning for the unexpected. Begin by consulting with an estate planning attorney. Your attorney will review your family and financial situation and help you create an estate plan that ensures your children will receive the best care and support available. When writing a Will you can also choose the following:
Who will act as guardian for your children, or the person that cares form them on a daily basis?
Who will act as conservator for your children, or manage their finances
How and when will your assets be managed and distributed to your children.
Estate Planning Attorneys for Families
It can be difficult and uncomfortable to think about your own death and the impact it will have on your children. Particularly because it is not likely to occur and therefore easy to ignore. However, having a plan in place for the unexpected is extremely important.
The attorneys at the law firm of Atlas Law, PLC, are experienced in helping individuals with small children with their estate planning needs. We can provide you with the peace of mind that comes from knowing that your children who rely so heavily on you now can to continue to do so after your death.
Our Michigan attorneys can guide you through the estate planning process and answer any questions you have about revocable living trusts, living wills, last wills, powers of attorney and the probate process. We offer free consultations. You can contact our office at (248) 773-5555.
About the Author: Aaron Shahan is the founder of Atlas Law, PLC. Aaron dedicates his practice to virtually all aspects of estate planning, elder law and probate.