Fact Sheets no. Estate planning lets parents plan for care of their children, ensures their property will be transferred to the desired individuals, determines who should handle the business affairs of the estate, and determines who will handle the children's property. The time to start estate planning is now.
Legal help is necessary for estate planning.
Changes in a family's estate plan are needed as the family changes, the children grow up, and the size of the estate increases. A couple has a house with a mortgage, a life insurance policy, and two minor children. Yes, they most certainly do. Too often, parents of young children neglect or postpone estate planning, saying they are too young, quite healthy, or cannot afford the expense. The real reason may be that estate planning deals with feelings and attitudes people often prefer to ignore.