Are you a young parent? Do you have a spouse and children that you would do anything to protect? If so, you should consider creating an estate plan. A good start is a will, which can ensure that your family is protected and provided for in case anything ever happens to you or your spouse.
At JK Nelson Law, we have seen several cases where someone has passed away unexpectedly, leaving their family without a will or any guidance as to how their estate and finances should be divided up. As attorneys, we want all of our clients to be prepared for the unexpected and having a last will and testament is a great tool to make sure their loved ones are looked after.
While life insurance policies or other financial instruments may leave behind financial assistance to your loved one, a will ensures that such monies are set aside for your family and distributed according to your wishes. Financial stress is a great burden for anyone, but especially for grieving family members. A will can help provide your spouse and children with the security of remaining in their home, possession of those items that will remind them of you, and finances to help ease the burden of single parenting.
Aside from laying out a plan for the distribution of your assets, a will can provide further assistance for your family if you have children. A will can provide an idea of whom you and your spouse feel the most comfortable with caring for your children should both of you pass away while the child is still a minor. Our team at JK Nelson Law understands how important having an estate plan, including a will, is to ensuring your family is taken care of both financially and physically. We will walk you through the process of creating a will, a financial plan, and even a custody plan. Creating a will is a great idea for anyone, but we recommend that you create a will early, such as during your pregnancy, to ensure that your family has that extra level of security and comfort set aside just in case.
What all should you have created and established to ensure that your family is taken care of?
- Having a will created can ensure that your selected family members will inherit any and all of your assets that you wish them to have. This will ensure that the state cannot decide who should receive your assets if you pass away without a will – known as dying intestate.
- After you nominate an executor and JK Nelson Law assists you with the creation of your will, you should also place a copy in a safe place where the executor will be able to retrieve it.
- In addition to creating your will, another great tool for your estate planning is a Health Care Advance Directive, as well as a Living Will. Those instruments assign someone that can make medical and end of life decisions in situations where you are unable to do so yourself. Your Living Will will provide important information such as when to take you off life support, when you want treatment withheld, and whether or not you would like to be an organ donor. You should store these directives with the copy of your will, so that your family can locate them in the time of need.
- Create a custody plan for your children. Another important aspect to include in your will is guardianship. Guardianship is simply appointing someone, a family member or friend, to care for and raise your child in case of untimely passing of you and your spouse. Both of you should decide on a family member or friend to take care of your child and consult with this person to make sure that they are up to the responsibility.
At JK Nelson Law, we understand that all of these documents are nerve-wracking, and difficult to think about. However, we know just how important they are to protect your loved ones, which is why we want to help you write your will and walk you through the entire process to make sure that your loved ones will have everything that they need in case of your passing. Call us today to schedule your free consultation with one of our experienced and knowledgeable attorneys.