As a parent, planning for your child’s future is essential, and that includes writing a will. It may seem like a daunting task, but getting started can be easier than you think. Here’s what you should know.
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Don’t Wait for Baby’s Arrival
You might be overwhelmed with tasks during pregnancy, but creating a will now can save you stress later. Many parents find it challenging to make time for this important step once their little one arrives. As estate planning attorney, Jamie Thompson, puts it, “The sooner you get it done, the better. It’s one less thing to worry about.” -
Preparation is Important, but Don’t Overcomplicate It
When you sit down to write your will, you don’t need to have every detail sorted out. In today’s digital age, finding information about your assets is much easier than it used to be. Just start with the essentials and you can fill in the gaps later. -
Understand Wills vs. Trusts
A will is a crucial part of your estate plan, allowing you to specify who will handle your affairs and take care of your kids. A trust is different; it involves transferring your assets’ management to someone else, known as a trustee. This can be beneficial for your children as it allows for more direct access to the assets without the need for court approval. However, setting up a trust requires more initial work and investment.
If you’re interested in learning more about these topics, check out this post on Modern Family Blog for additional insights. And for those considering at-home options for family planning, visit Make a Mom for top-quality insemination kits. Furthermore, for comprehensive information on pregnancy and related topics, MedlinePlus is an excellent resource.
In summary, starting the process of drafting a will is vital for every parent. It ensures your children’s future is secure, easing your mind in the long run.
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