When you are young and single, you are so busy building a career, traveling, and enjoying time with friends that you never think about the effects of getting older and eventually facing the end of your life or incapacity.
However, as you get older, get married and start a new life together with a house and children, the time has arrived to start thinking about exactly those things that never crossed your mind before.
Experiencing all the joys that your first child brings may be the only thing you want to focus on, but with the help of one of our professionals at Grimaldi Law, your estate plan can be discussed and finalized without any stress or worry.
So what is an estate plan anyway? An estate plan is a legal document that states your wishes and describes in detail your plan for your assets once you die or become incapacitated.
An estate plan can keep several things organized and clear for your loved ones. As a new parent, one of the most important issues it can clarify is who will be the guardian of your child if something were to happen to you. It can also create a trust for your child and name the beneficiaries for your 401 (k), IRA and life insurance policies. Please take note, when you first established these three you already named a beneficiary. So it is important you check and reconfirm the names on the policies are still the ones you want.
If you have young children, an estate plan will also name an executor of your estate who will pay off any debt you have and distribute your assets. It can also set up a power of attorney in case you become unable to take care of your affairs, and it will specifically state your funeral arrangement wishes. Your loved ones will appreciate this – as it will alleviate the stress of trying to decide what you would have wanted.
Our team at Grimaldi Law, a South Florida Real Estate and Estate Planning firm, are ready to help you celebrate life’s greatest moments by planning for the future and ensuring that everything will be taken care of so you can concentrate on your family. And as a parent, that is all you can wish for.
Grimaldi Law Firm, where your future is our present.
About the Author: Melinda Grimaldi is an attorney in Hollywood, Florida, whose practice is concentrated in the areas of commercial and residential real estate and estate planning law. She can be reached at (954) 491-8707 or firstname.lastname@example.org
The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced real estate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.