You have just welcomed a new addition, a baby, into the world! It’s exciting, it’s exhausting, and it’s a little bit terrifying. After a few weeks, or months, when your life starts to settle into a new routine with this tiny human, and your brain has enough sleep to function again, it’s time to turn to a new hurdle: making sure this baby is protected and provided for. No one expects anything to happen to them, and no one wants to talk about death when they have just experienced the miracle of birth; but, part of the responsibility of bringing new life into the world is providing care and protection. We cannot see the future, but we can make plans for the “what-ifs” that may arise.
Here are a few of the things you should consider when considering your Will:
- Name a Guardian – make sure your child will be raised by people who share the same values in life and who have the ability to raise your child.
- Name a Custodian or Trustee – the people who may do a wonderful job raising your child may not be the same people who can manage finances as well. Makes sure you have someone with a good head for numbers to make sure your child is cared for through college.
- Manage Your Assets – Create a trust for your minor child so that the Trustee has guidelines on how they can and cannot spend and manage your child’s assets. A trust also allows you to determine when a child receives their inheritance, which is probably best after college. While an 18-year-old may mean well, even a few thousand dollars can be used poorly at a young age.
- Take Care of Yourself – part of taking care of your baby is taking care of yourself. An advanced health care directive will help your spouse to navigate the emotional journey when tough medical decisions need to be made. Your family still needs your guidance, even when you are unable to speak for yourself.
At Grissom Law we help families make plans for all of life’s possibilities so that you can rest knowing your loved ones are protected and planned for. Call our office at (678) 781-9230 to set up a consultation. We make planning easy.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.