July 24, 2013
When you have a new baby, a visit to the estate planning lawyer isn’t usually very high on your priority list. Really, though, it should be. Estate planning lawyers in Sacramento are very aware of how your needs shift with the addition of a new little one in the mix.
At its heart, we think of estate planning as a tool to provide for those who come after us. When you bring a new baby home, your thoughts and desires immediately move toward figuring out how to care for him or her. While that means things like weighing the pros and cons of using a pacifier or choosing between disposable and cloth diapers, there are some other “big picture” concerns that you should be considering now.
If you are still in the “expecting” stage and your baby hasn’t been born yet, then this is a great time to start getting all of your documentation lined up and ready to implement. We all know that things get pretty hectic once the new baby arrives, so it’s not a bad idea to meet with your Sacramento estate planning lawyer while you’re still pregnant.
For those whose little bundles have already arrived, however, it is not too late. (It’s almost never too late to start your estate planning, really.) Once you’ve got your bearings and can take a deep breath, pick up the phone and call an attorney who has good knowledge in the area. If you live outside of Sacramento, we are happy to refer you to another firm that can help.
When you meet with your estate planning lawyer, you can expect to cover several topics that are very relevant to being a new mother. For example, you may be advised to consider acquiring a life insurance policy. This type of policy can provide financial means for your child should you die unexpectedly. By putting together a trust, you can even create a plan for how you would like the money to be used.
Estate planning doesn’t just have to be about you dying, either. A good lawyer in Sacramento can help to direct you on topics such as how to prepare for retirement and how to set up a college fund for your new baby. These are the types of things that are always better to set up in advance because they will have more time to accumulate funds for later.
Finally, the most important reason to set up a meeting with your Sacramento estate planning attorney is to name a guardian for your child. Should the worst happen, you want to know that someone you trust will be raising your precious little one. This is not something that should be put off, because it is the only way that you get to have a say in who that important person will be.
If you are ready to get started creating a plan that ensures your family will be protected no matter what happens, please feel free to give our office a call at (916) 241-9661 and ask to schedule a FREE Peace of Mind Planning Session with the mention of this article ($750 value!)