Ilona Josiane

How to Include Minor Children in Your Estate Plan? If you’re a parent, chances are you’ve thought more than once about what would happen to your kids if something happened to you. It’s a scary thought, and not one anyone wants to dwell on—but it's exactly why family estate planning matters so much when you have minor children. Estate planning isn't just about money or property. It’s about making sure your children are cared for by the right people, in the right way, if you’re no longer around to do it yourself. It's not morbid—it's loving, responsible, and deeply personal. This guide breaks down what steps you should consider, how to start, and why it’s never too early to get your plans in writing. Why Minor Children Need to Be in Your Estate Plan     Let’s start with the most important point: if you don’t put your wishes in writing, a court will decide who raises your children and how your assets are handled. That might mean someone you wouldn’t choose—or a drawn-out ...

How To Set Up An Estate Plan? Setting up an estate plan involves a series of steps designed to ensure that your assets are managed and distributed according to your wishes and that your healthcare and financial affairs are handled appropriately if you become incapacitated. Here’s a step-by-step guide to setting up an estate plan: Assess Your Estate Inventory Assets and Liabilities : List all your assets (real estate, bank accounts, investments, personal property) and liabilities (debts, mortgages, loans). Determine Estate Value : Calculate the total value of your estate, considering the current market value of your assets. Define Your Objectives Identify Beneficiaries : Decide who will inherit your assets (family members, friends, charities). Specify Distribution : Determine how and when your assets should be distributed to your beneficiaries. Consider Incapacity : Plan for the possibility of becoming incapacitated by specifying who will manage your financial and healthcare decisions. ...