As an estate planning attorney and a father of two, what’s the biggest mistake you see parents make when it comes to planning for their children’s future?
My mind goes directly towards not taking advantage of educational opportunities! Many parents unknowingly sell their family short by pursuing a basic Will, because the concept and terminology are familiar to them. They tend to assume that they don’t have enough to warrant trust planning, and they remain blissfully unaware that Wills typically trigger the need for full probate.
Many parents assume estate planning is something they can put off until later. Why is it so important to have a plan in place while your children are still young?
It’s truly never too early to pursue at least basic estate planning. I do the whole “kidding, not kidding” thing with people when I say, “If you have a dollar to your name and a person you care about, you need an estate plan.” As a dad, I can’t imagine rolling the dice and leaving it up to chance about which roof the kids would be under if disaster struck. By nominating a Guardian, you’re exercising your voice and putting a spotlight on whom you feel most comfortable taking on that incredibly important role.
At Inner Circle Legal Planning, what services do you offer families who want peace of mind knowing their children, and even their pets, will be cared for no matter what the future holds?
We pride ourselves on being A+ in estate planning. Our hyperfocus allows us to learn about our clients’ goals and create custom plans while providing educational support in plain English. We prepare deeds, transfer your business interests, hold your hand through beneficiary changes, and collaborate with your financial advisors… all with one goal in mind: making sure your loved ones are taken care of – not just on paper, but in reality!
"You’re exercising your voice and putting a spotlight on whom you feel most comfortable taking on that incredibly important role."