How to Get Your Affairs in Order: Estate Planning Tips for Busy Parents
April 26, 2022
No one wants to think about death, but it’s something that we all have to face at some point in our lives. If you’re like most busy parents, you probably don’t have time to sit down and read a long estate planning book. That’s why we’ve put together this list of tips for getting your affairs in order. By following these simple steps, you can make sure that your loved ones are taken care of if something happens to you.
Basic Steps to Get Your Affairs in Order
First, make a list of all your assets. This includes everything from your house and car to your bank accounts and investments.
Next, you’ll need to designate a beneficiary for each asset. This is the person or organization that will receive the asset if you die.
Once you’ve made your list and designated beneficiaries, it’s important to keep it up to date. As your life changes, so will your assets and beneficiaries.
Make a list of all your bills and debts. This will help your loved ones know what they need to pay if something happens to you.
Make sure you have a Will or Trust in place. This document will spell out how you want your assets to be distributed after you die. Without a Will, the state will decide how your assets are divided, which may not be in accordance with your wishes.
Name guardians for your children. If you have young children, it’s important to designate a guardian. This is the person who will raise your children if something happens to you and their other parent.
Finally, ensure your loved ones know where to find this information. Keep your estate planning documents in a safe place and let your loved ones know where to find them. You may also want to appoint someone to be in charge of carrying out your wishes.
My Office Can Help You PrepareWhile this list will help you get your affairs in order, it is only the beginning. There are a lot of considerations when planning for the future of your loved ones. If you’d like to learn more about estate planning, Click here to Schedule a FREE Virtual Estate Planning Session. We can help you create a comprehensive plan that will give you peace of mind knowing that your loved ones are taken care of no matter what happens. |
Parenting Tip:
Setting Limits With Your Children. It’s important to let your kids know what behaviors are acceptable and what are not. This will help them to understand the consequences of their actions. However, it’s important to remember that every child is different and will respond to different parenting techniques. Some children respond to positive reinforcement while others respond better to the natural consequences of their actions.