Table of Contents

Is Probate Required if There is a Will?
When is Probate Necessary in New York?
Best Estate Planning Lawyers in Brooklyn: Why it is important?
Do I need an Estate Plan?
Estate Planning for a Married Couple: How to do it?
Estate Planning for Business: Why it is Important?
What is Estate Planning?
What does an Estate Plan include?
Is Estate Planning only for the Wealthy?
Estate Planning for Singles: Widowed, Divorced, and Never Married!
Estate Planning for Pets: Why it is important?
Estate Planning for Children: How to do it right?
Estate Planning Checklist: Important Guidelines & Details!
Estate Planning for Business: Why it is Important?
What Is Estate Planning?
What Does an Estate Plan Include?
Is Estate Planning Only For the Wealthy?
Estate Planning for Pets: Why You Need To Do It?
Estate Planning for Children
Estate Planning for Singles
Estate Planning Tips for A Married Couple
Do I Need an Estate Plan?
Estate Planning for Business
Estate Planning Lawyer
/Common estate planning scams you must ignore
Benefits of Estate Planning for Low Income Individuals
Why Estate Planning for Minors is Important?
Estate Planning for New Parents & Couples!
How to do Estate Planning for Non-US citizens?
How to do Estate Planning for Separated Spouse?
Estate Planning for Young Families & Couples!
Estate Planning Goals For Blended Families
What is Estate Planning in a Digital Age?
Estate Planning Strategy In The Digital World
Importance of Estate Planning In the Down Economy!
Estate Planning Is The Best Tool to Save Inheritance Tax
Estate Planning Process & Step by Step Guide!
Why Estate Planning for Elderly Parents is Important?
How to do Estate Planning for Digital Assets?
Estate Planning for Childless Couples & How to do it?
Custom Web Design
Estate Planning Errors to Stay Away From
Estate Planning Documents: All Must Have Important Docs in Details!
Estate Planning At Different Ages
Estate Planning and the Military; Understand the Importance!
Estate Planning: What happens when your spouse dies?
Estate Planning: Living Trusts vs. Will Difference & Importance!
Estate Planning Errors Through Digital Means
Do You Need A Probate Attorney After Estate Planning
Do Retirement Accounts Go Through Probate?
Estate Planning: Difference between a Will and a Trust!
Challenging Estate Plans – Fraud
Estate Planning: Difference between a Living Will & Power of Attorney

Children are the most beautiful thing which can ever happen to a family. We all start getting worried about the future and security of our children even before their birth. If you haven’t thought of the estate planning before then you must think about it now because with children it becomes a necessary step. Maybe you have heard about the estate planning before but you haven’t taken any action towards it yet. You should stop thinking about it because now that you have children it is a necessity to great an estate plan for their protection.

Estate planning works as a shield for your kids and it does provide future safety to them in your absence. We think that everyone who is thinking of starting a family should plan their estate. It is really going to help you a lot in the future and also it is going to work in favor of your kids. You might be aware of the fact that estate planning isn’t just about transferring the funds or estate but it is about making the future you taking control of the future while you can.

Estate planning for children

When we make an estate plan we often make it for the safety of our family and kids. You might already be aware of the fact that estate planning for the children is quite important because you want to ensure that your assets pass to them with minimal tax exposure and outside of marital property or personal issues. If you and your spouse die because of some tragedy, then what will happen to your children? If you have minors assigning a guardian that you trust should come into consideration. Keep in mind without a proper estate plan your children might be subject to probate or a guardian controlling their life without having their best interest at heart.

A good estate plan can help your children while you are alive and when you are gone. People for the most part don’t just pass they become metal incapacitated or ill and unable to take care of themselves. Something as basic as a power of attorney can save them a headache in such a scenario by empowering them to make financial decision and gain access to your savings or properties for financial situations to assist both you and them self’s.

Estate Planning for children Important Steps

Will

You must write a will in order to start with your estate planning for children. Now, most of the young parents don’t think about assets or property when they write the will but they focus on the “guardian”.  So, in your will, you must name a guardian who is going to take care of your kids in absence of you and your spouse. A will is also where you can state your wishes of how your assets are distributed amongst your children which can help avoid family feuds.

Life Insurance

You must buy life insurance for your kids so they can get benefits in your absence. We think that it is an important and much-needed step when you are thinking about the safety of your kids.

Make Healthcare Proxy/ Power of Attorney/ Living Will

Healthcare proxy is someone who will make a decision for your medical health if you aren’t able to make them somehow. You can’t pick your minor kids for this position you may appoint your spouse, a close family member or even a friend. Power of attorney is someone who will make a decision on your behalf for all your finance-related issues. Living Will is where you can state your final wishes such as burial or funeral arrangements so your family isn’t burdened with such decisions on your behalf.

Estate planning for special needs children

Estate planning is very important if you have special needs children. Families with special needs children should be much more concerned about the safety of their kids in the future. If something happens to you and your spouse then they’ll be alone without any care. In the case of estate planning, you can at least pick someone to take care of them after your death and insure some sort of finances that can be used for their care.

We have seen a lot of clients struggling while making an estate plan for their kids. It’s our duty to think about our family’s future in all cases. We think that estate planning can be an extra layer of protection for them. However, estate planning isn’t the only thing you can do for future security but it is an important one. If anytime you feel the need of advice on estate planning then you can directly contact us for a free consultation. We will be more than happy to help you in planning your estate for your children. 

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