You’re a new parent! Congratulations! The view of your world has changed, and suddenly you’re not the most important person anymore – your child is. And you will do anything and everything to protect this young baby. You have the best stroller, crib, and car seat for the little one, but have you thought about how you’ll protect your child’s future? You may not realize you need estate planning tips for new parents – but you do.
The purpose of an estate plan is to protect you and your loved ones. It is a set of legal documents that can help you plan your future or ensure you are cared for if you become ill or incapacitated. It also helps financially protect your loved ones after you pass away. People often believe an estate plan is a will or trust – but it includes much more.
The 3 primary documents in an estate plan are:
While a will or trust is important, as a new parent, you need an entire estate plan to protect and care for your new child.
So how can you set up an estate plan that is best for you and your new family? Here are 5 tips that will help you get started:
As a new parent, you need someone to help you establish an estate plan. An experienced estate planning attorney can help you set up all legal documents, ensure there are no conflicts and your child will be protected and taken care of after you’re gone.
At the Estate and Probate Legal Group, we understand your unique situation as a new parent. We can help with your estate planning and all the necessary arrangements. Contact Us today to talk with an experienced attorney. Call us at 630-864-5835.
AREAS WE SERVE: Cook, DuPage, Kane, Lake and Will counties