Creating an Estate Plan was one of those tasks I put on my mental to-do list after I became a mom. You know that never-ending list of things you know you need to do? Creating a Will was one of them. However, between juggling work, daycare, doctor appointments, activities, and making time for yourself, it can be hard to find a moment to think about the future. But, there’s one thing we should all make time for, and that is creating an Estate Plan for our families.
What exactly is an Estate Plan? It’s a collection of legal documents that detail your wishes regarding how your personal and financial affairs should be handled (and who should care for any minor or disabled children you might have) if you die or become incapacitated. It typically includes a Will, a Trust, and Power of Attorney documents.I know, it sounds daunting and maybe even a little morbid, but trust me, it’s one of the most loving things you can do for your family. Hopefully, you’ll live a long life and never become incapacitated. Unfortunately, sometimes the unthinkable happens. Having an Estate Plan gives you peace of mind knowing that if the unthinkable happens to you, your most important wishes will be carried out.
If you don’t have an Estate Plan in place, here are three reasons why you should consider getting one, especially if you have young children:
1. Protect and Provide for Your Family:
As moms, our number one priority is our kids. We want to make sure they’re safe, happy, and well cared for, no matter what. An Estate Plan allows you to designate a guardian for your children, ensuring that they’ll be taken care of by someone you trust if anything happens to you. It also allows you to make sure that your assets are available to be used for their benefit – like funding their education or paying for their special medical needs. Knowing that your children will be well cared for provides truly priceless peace of mind.
2. Avoid Family Confusion and Conflicts:
Preparing an Estate Plan involves gathering, organizing, and assessing the key details of your life, thinking about your most important wishes, and preparing legal documents based on your unique circumstances and preferences. If you don’t do this, you could wind up leaving your family a literal and figurative mess to have to sort through. Not having the details of your affairs or legally valid instructions regarding your wishes only leads to confusion, anxiety, and possible family conflict – the last things you want to happen.
3. Save Time, Money, and Your Privacy:
Without an Estate Plan, your family could face a lengthy, costly, and public probate process to settle your affairs. By having an Estate Plan, you can avoid this process, making it easier and more efficient for your loved ones to carry out your wishes while also keeping the details of your assets and debts private.
One thing to remember is that creating an Estate Plan doesn’t have to be overwhelming. If Estate Planning is something you want to get started on, or learn more about, feel free to reach out to me at [email protected] or visit Wayfinder Law in St. Louis. We guide you every step of the way and make sure the process is as smooth and efficient as possible. Because every St. Louis mom deserves to know her family is protected.
