While this can be a busy time of year—and while you have lots to do if you are a new parent—it is important not to neglect your estate planning needs during this time. Estate planning is important for lots of reasons, and making sure you have a solid plan in place provides peace of mind while also providing protections for you, your spouse or partner, your children, and your extended family.
5 Important Estate Planning Considerations for New Parents in Florida
What are some of the reasons why growing families should have an estate plan? Here are five important estate planning considerations for new parents in Florida:
1. It’s Never Too Early to Have an Estate Plan
There is a common misconception that preparing an estate plan is something you do later in life. While it is true that many people put off preparing an estate plan, estate planning is important for people of all ages—and especially for parents.
2. There is More to Estate Planning than Preparing for Your Passing
One reason why it is important to have an estate plan as a new parent is that there is more to estate planning than preparing for your passing. From healthcare decision-making to planning for temporary or permanent incapacity, your estate planning documents can come into play in various other circumstances as well.
3. Estate Planning Allows You to Protect Your Children No Matter What
Of course, acknowledging the possibility that we can die at any time is an important part of estate planning. When you prepare an estate plan, you can designate the person (or people) who will raise your children should you no longer be around to do so.
4. If You Don’t Have an Estate Plan, Florida Law Will Determine What Happens to Your Children (and Your Property)
If you don’t make decisions about healthcare, childcare, and distribution of your property in an estate plan, Florida law will make these decisions for you. Unfortunately, what the law requires rarely (if ever) aligns with parents’ personal wishes.
5. Estate Planning Isn’t as Time-Consuming, Stressful or Expensive as Most People Think
While many people seem to think that preparing an estate plan is a time-consuming, stressful and expensive process, this isn’t actually the case. Working with an experienced estate planning attorney is a straightforward process, and your attorney can guide you through the process step-by-step. When the process is over, you can feel good knowing that you have taken an important step to protect your entire family, and you can continue to focus on caring for and raising your new child.
Schedule an Initial Estate Planning Consultation Today
We provide comprehensive estate planning services to individuals and families in Southwest Florida. To schedule an appointment with an estate planning lawyer at our offices in Naples or on Marco Island, please call 239-394-5161 or contact us online today.
Read in SWFL Health & Wellness Magazine.
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