Will Not

SavvyMom March 31, 2016

Major avoidance, major.
You can get away with that attitude about your will and estate planning right up until about the day your firstborn arrives.

Sorry to be that nagging voice but we really do want the best for you and your kids, and having a proper will is all part of that.

For advice on this dreaded task, we’ve enlisted Susannah Roth from law firm O’Donohue & O’Donohue.

It’s About the Plan
For parents of young kids (or not-so-young if you have been on that avoidance train), one of the most important reasons to have a will is the appointment of a legal guardian. Should a tragedy occur, YOU know that you chose the guardian of your children—not the courts.

Avoiding family fights about who-gets-what, making sure that your assets are disposed of as you wish, and having your family know that you cared enough to plan for them are all worth the trouble of drawing up a will.

There can also be important financial incentives. Tax planning considerations, such as spousal trusts, can be addressed through the estate planning process. Also, if you die without a will, legal costs for estate administration and guardian appointment will be higher (and the process will take longer and could be harder on your family).

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