Estate Planning Now Takes the Stress off Loved Ones Later
You’ve been putting off estate planning for too long, so it’s time to make it a priority. The estate planning attorneys at Viner Law Firm PC can help you to be prepared for the unexpected, so your family does not have to make difficult decisions at an already difficult time.
Many people think that wills and trusts are for rich people, the elderly, or people who have a lot of assets, but everybody should have a will. Estate planning services are beneficial for people of all walks of life – people with the responsibility of children, a spouse, and even people who have debt.
Making the Right Decisions About Your Assets and Dependents
When you are having your will written, there are many things to think about, including who you trust with finances, and who you would want to raise your children. If you have assets and children, it is best to have a different person handling the trust, than taking custody of the children.
Things to Consider in Choosing a Guardian for your children:
- Who will raise your children in a safe environment?
- Who will make them feel like they belong and have the resilience to help them through their grief?
- Who will guide them and support them to be the best person they can be?
- Who will raise them with religious beliefs and values that you respect?
- Who do you feel confident can provide for them as they grow older?
- How can you supplement finances in the household that takes in your children?
Things to Consider In Granting Control of Your Assets:
- Who is the most responsible person you know and trust with decisions about money and assets?
- Who do you trust to make sure that past bills are paid and your beneficiaries listed in a trust get access to funds when it is appropriate?
- Who would you trust to pay you back or not steal money from your home, even if it was in plain view?
When to Grant Access for Minors to their Inheritance:
- Consider how much money you have in assets and life insurance and decide how much money their guardian’s deserve to raise them and how many yearly payments should they get?
- Do you want your kids to work for their first car or do you want money to be released?
- What percentage of their college do you want them to pay for themselves?
- At what age do you feel your children can handle a lump sum of what is left when they are adults?
- Do you expect that they go to financial classes or financial counseling before the lump sum is released to them?
If you make sure decisions are made and written in legal documents, like wills and trusts, and that guardianship of minor children is already decided, difficult times will be a little easier for all of those left behind.
The lawyers at Viner Law Firm PC will always advise you on the best way to set up wills and trusts, and how to make difficult decisions so your loved ones will not be faced with them. Call today at 319-531-1333 and we will get your legal papers started.