Estate Planning for Young Families - Young Family Plan

Estate Planning for Young Familes

Appropriate Wills, Trusts, Guardianship Services and Health Care Appointments For Young Families

Kids, work, house, school, sports, pets, bills, parents, doctor’s appointments, play dates – life can be a joyful, albeit hectic, juggling act for young families. Most young couples enjoy these busy days of building a life and future for their family.

Young families who are committed to dotting all of the I’s and crossing all of the t’s need to plan for the care of their minor children if they are unable to do so later– whether because parents are away or disabled, or if parents die.

Parents also need to empower someone to manage the money of the minor children. Many people believe a guardian automatically has this power – but this is not true.

Our Young Family Plan neatly packages what parents of minor children need for their families.

For a flat fee of $4,000 the Young Family Plan includes:

  • Last Will and Testament –Leaves assets to beneficiaries after parent death.
  • Nomination of Guardian. Nominates temporary and permanent guardian(s) to care for minor children if parents are away, disabled, or deceased.
  • Testamentary Trust for Children – Appoints a trustee to manage funds for minor children if parents die. Included in Last Will and Testament.
  • Revocable Trust – Allows for easy transition of control when a parent dies or becomes incapacitated. Appoints a trustee to manage funds including for minor children. Avoids probate after parent death.
  • Supplemental Needs Plan – Included in Revocable Trust and Last Will and Testament. Protects benefits disabled child may be receiving.
  • One Deed – Retitles home in name of Revocable Trust.  
  • Durable Power of Attorney – Designates agent to make financial decisions for a parent if parent unable to do so while alive.
  • Advance Health Care Directive – Designates agent to make health care decisions for a parent if parent unable to do so while alive.
  • HIPAA Designation – Authorizes release of information to the designated agent.

Start to finish, the Young Family Plan can be finalized in 2-3 weeks and typically takes 2 meetings: consultation and design; then the signing. In the interim, we send summaries for review. Meetings can be scheduled for during work breaks and/or before/after work.

Young families make time for everything else. For a short time commitment, young families can put the legal documents in place that they know they need for their children – and thereby obtain peace of mind.

Call or email us today to schedule your Young Family Plan consultation and design.