Planning for the road ahead.
When you’re chasing kids around, running the soccer carpool, trying to get dinner on the table and the homework done, it’s easy to kick things like estate and retirement planning down the road. Maybe you don’t think you have enough assets, or think you’re still too young. You’re not alone. Most people at this stage in life don’t have an estate plan in place. But they should. Because it’s one thing to avoid estate planning when you’re young and single. But when kids are involved? The stakes are so much higher.
If something catastrophic happens and you have no will or formal plans in place, who takes care of the kids? Who makes their medical decisions? Where will they live? Who will manage their inheritances? Who will make sure they can afford college? If you don’t legally state your wishes first, a court will decide for you. As uncomfortable as these conversations can be, they’re important to you and your family. Formally establishing your wishes takes the burden off your loved ones and brings you peace of mind.