Most parents with new and growing families assume they have plenty of time for estate planning and preparing a will, often putting the tasks off and putting their loved ones at risk for far too long. Not only can we never predict the timing of death, but there are also important special considerations that families with younger children need to take into account when preparing a will.
In this video, Episode 27 of the Discuss With Russ series, Russell interviews George Bischof, managing partner of Bischof & Bischof LLP, to learn what new parents need to know about preparing their will.
Topics Discussed:
The importance of naming a guardian to care for the kids
Appointing beneficiaries and trustees
At what age you want your kids to gain control of assets
Issues and pitfalls modern families need to consider
Creating and regularly updating a robust plan that covers contingencies
You can watch this video and others on the Voice Wealth Management YouTube channel.