#33 Have Young Children?
4 Important Estate Planning Considerations
In this week's episode:
What is the second-worst thing that could happen to your children, if something happened to you?
It's simply this: that you didn't make a plan for them.
During this episode, I talk about four major planning considerations that every parent with minor children should be thinking about when they’re doing their estate planning, and for parents of minor children that haven’t started their estate planning yet.
- Decide who will be your children’s (or child’s) guardian. If you’re choosing a couple, make sure both people are suitable to be your children’s (or child’s) guardians.
- Inheritances - do you really want your inheritance to go straight to your child(ren) when they turn 18?
- Who do you want to exclude from your children’s (or child’s) upbringing? Those who “look good on paper” to the courts, may not be who you want around your child(ren).
- Wills - They are public documents, so if you want to protect your children and their information, you may want to reconsider having a will. Visit the links list below, to find an episode about 5 crucial facts that you may not know about Wills.
About the show
Planning isn’t just about getting your will done or going to see your financial planner once a year. SMART planning involves an educated process that incorporates the latest in legal, financial, and healthcare strategies to work toward the most desirable result – the quality of life, throughout your entire life.
The biggest problem, too often, is that “traditional” notions of what is right to do in both legal and financial estate planning don’t always work in today’s world.
I created SmartPlanning101 to help all of us learn how to be better planners for the future – and stay in control. To learn how and when we need to challenge the “status quo” and “conventional wisdom.” To be in a nutshell- “smart planners.”Learn More About The Show Click Here