Estate Planning for Parents

Are you a new parent feeling overwhelmed with taking care of your baby and all the responsibilities that come with it? Estate planning is probably the last thing on your mind. But with the sudden onset and ongoing effects of the pandemic, it’s become increasingly important to think about the future. That’s why all parents, even new ones, need a family estate plan.

One of the critical estate planning issues for parents of minor children is deciding who will care for them if both parents die. By creating an estate plan, you can name a guardian for your children and a replacement if the first choice is unable or unwilling to serve. Without your input, a judge who is unfamiliar with your children and family dynamics will make the decision for you.

An estate plan is also vital for naming a trustee to handle any assets and real property that your minor children inherit until they reach a designated age. Without an estate plan, state laws will decide how your assets are distributed, which may not reflect your children’s needs or financial resources. Estate planning enables you to determine how your assets would best be apportioned among your children, taking into account each respective child’s needs.

Not having an estate plan can also have emotional implications for your family. Deciding who you want to raise your children if you are no longer alive can be a gut-wrenching experience for many parents. Taking the time to think through the options, including the individual personality makeup of the person and their viewpoints on parenting, can help make the decision easier. By naming a guardian in your estate plan, you can ensure that your children will be taken care of by someone you trust.

If you’re a new parent, estate planning may not be at the top of your to-do list. However, with the pandemic’s ongoing effects, it’s more important than ever to plan for the future. By creating a family estate plan, you can ensure that your children will be taken care.

Call us at (407)380-7724 or email us at mail@themendezlawfirm.com to schedule your Family Estate Plan consultation. We know that your family and loved ones are important to you, especially now during these critical times! And that’s why at The Mendez Law Firm, we offer you a FREE, No Obligation Consultation.

We’ll answer your questions about Wills, Family Trusts, Powers of Attorney, and what you want for your own family and loved ones in your Family Estate Plan. If you are looking for a Florida estate planning attorney in the Greater Orlando Area, we are here to help with all your Estate Planning and Asset Protection needs.