Estate Planning for Young Families
Protecting your children's future is your most important responsibility
Your Children Deserve Protection
As a parent, nothing is more important than ensuring your children's wellbeing. But have you considered what would happen to them if something unexpected happened to you and your partner? Without proper planning, decisions about your children's care and your assets could be left to the courts. At Ozark Trust & Estate, we help young families create comprehensive plans that ensure your children will be cared for by people you trust, according to your wishes.
Schedule a ConsultationWHAT HAPPENS WITHOUT A PLAN?
Court Decides Guardianship
If you don't legally designate guardians, the court will decide who raises your children, potentially choosing someone you wouldn't have selected.
Family Conflicts
Without clear instructions, relatives may fight over custody of your children, creating lasting family tensions at an already difficult time.
Children Receive Assets Too Young
Your children could receive their entire inheritance at 18, before they have the maturity to manage significant assets responsibly.
Assets Frozen
Your family's assets could be frozen during probate, making it difficult for your children's guardian to access funds for their care.
OUR SOLUTIONS FOR YOUNG FAMILIES
Guardian Designation for Minor Children
Ensure your children are raised by people you trust who share your values and parenting philosophy. We help you:
- Legally name guardians for your children in your will
- Designate different guardians for different children if appropriate
- Name backup guardians in case your first choice is unable to serve
- Create detailed guardianship instructions regarding your children's education, religious upbringing, and values
Financial Protection for Children
Create a structure to manage assets for your children's benefit until they reach financial maturity through:
- Children's trusts that protect their inheritance until they reach appropriate ages
- Phased distribution of assets (e.g., ⅓ at 25, ⅓ at 30, and ⅓ at 35)
- Provisions for education, healthcare, and other important expenses
- Selection of trusted trustees to manage assets for your children's benefit
Life Insurance Planning
Ensure your family has the financial resources they need if something happens to you:
- Determining appropriate life insurance coverage based on your family's needs
- Setting up proper beneficiary designations for insurance policies
- Creating life insurance trusts for larger policies to avoid estate taxes
- Coordinating life insurance with your overall estate plan
Incapacity Planning
Protect your family if you become temporarily or permanently unable to make decisions:
- Powers of attorney for financial decisions
- Healthcare directives specifying your medical preferences
- HIPAA authorizations allowing access to medical information
- Living will to express end-of-life care preferences
Ready to Protect Your Children's Future?
As a parent, creating an estate plan is one of the most important things you can do for your children. Contact us today to get started.