As we get ready to celebrate Father’s Day, we reminisce on all the things we love about our dads: cringe-worthy dad jokes, helpful advice, exciting adventures and a shoulder to cry on. Dads make an incredible difference in our families. Their love for their children is impactful; there is no question about that.
There are countless ways to show your kids you love them. But Dads, don’t forget having a solid estate plan in place is one of the ways you can show your family you care, even after your death. Here are three ways that it truly makes a difference.
1. Protect Minor Children: If something happens – whether death or incapacitation - when your children are minors, it is imperative that you have a plan in place. If not, you will have no control over who raises your children. An estate plan gives you the peace of mind to know that your children’s future is secure if the unexpected happens. Check out our webinar to learn more.
2. Make the Hard Decisions for Them: Most attorneys package an advance directive and power of attorney into their estate plan. These documents will tell your adult children (or other family members) your wishes regarding any variety of healthcare treatment options. This means you won’t leave them stuck making the tough decisions on their own. You’ll share your wishes to make their choices easier.
3. Save Time and Money: Without an estate plan, your assets will be split up according to state law. Your loved ones would likely have to hire a probate lawyer to file a case, which can be lengthy and quite pricey. Even if you have a will, your estate will still go through probate. A trust is another option that will be a bit more work on your end to set up, but will provide your children a much smoother transition. An estate planning attorney can help you determine which option is best for your family – but having no plan is never a good option.
It may take a little work on your end to get a plan in place, but as you can see, it’s an impactful decision for your children. Need more reasons why you should prepare a plan now? We have them.
So, take a moment in the next week or two and ensure your planning documents are in order and up to date. If not, start the process now. It’s one of them most important things you can do to protect those you love in times of crisis. This month, we are offering a special promotion just for you. The first five fathers to book a free, two-hour planning session in June will receive a $50 gift card to a local restaurant of their choice. Just use promo code "DAD" at booking.
Happy Father’s Day!