planning for young families
Families with young children also have their own planning needs. Although these plans are some of the simplest plans we draft, they do present their own unique issues.
Special Considerations for Families With Young Children
When we work with young families, we cover a number of issues unique to them. Those issues include:
Choosing guardians. Parents of minor children nominate a guardian or guardians who will assume parental duties in the event of their death.
Structuring trusts. It is never a good idea to give money directly to a minor. It is rarely a good idea to give money directly to a young person. Instead, we create trust funds for children or other beneficiaries who are too young to manage them directly. During our consultation, we discuss options for how these funds can be structured and who will manage them.
A full discussion of planning for young families can be found in our article on this topic, which is available here.
Getting started
As with all of our planning, plans for families with young children start with a no obligation consultation with an attorney. To get started, call our office to schedule your consultation. We look forward to working with you!