When it comes to parenting, you know your child better than anyone else. The same is especially true if your child is special needs. You know their routine and the environment that they thrive in. You also understand what it is they will need as they grow and continue through life.
Now that your little bundle of joy is here, it is time to talk estate planning. Just like how you checked finding a pediatrician and decorating the nursery off your to do list, now is also the time to make sure everything is in place in case anything ever happened to you and your partner.
Estate planning goes far beyond itemizing assets and listing beneficiaries to receive these assets. Especially for those who plan to leave a good deal of wealth and possessions when they pass, the process of estate planning should also take a close look at just what can be done to best preserve wealth for future generations.
If you have already put together a will and estate planning documents, you’ve already gone a long way in terms of preparation for the future. However, do not let those documents go stale. Rather, make sure to review them at least every five years – or sooner – if you or your family recently went through any major life changes.
Your home is a considerable asset. Yes. You have money in the bank, investments made and valuable possessions, but your home is also a rather significant asset to take into account when deciding how you want to leave your assets to your loved ones.