If you have recently become new parents or parents-to-be, the last thing on your mind is probably doing estate planning. After all, you’re young, probably healthy, and all of your energy is focused on that new baby. Why in the world should you worry about preparing an estate plan now – that’s something your parents or your parents’ parents have to deal with, right?
In some ways, estate planning is more vital to a young couple than it is to an older couple. For the first time in your life, you have or soon will have a completely helpless human being who is totally dependent upon you for his or her care. And what happens if something happens to you or your significant other or both?
Financial Responsibility of New Parents or Parents-to-Be
There are the financial aspects to address as new parents or parents-to-be, such as determining and obtaining an appropriate amount of life insurance. And saving for that inevitable college education. That’s something a financial planner can assist you with, and it is equally important. But, estate planning deals with the legal […]