Estate Planning for the Growing Years

Your kids are growing up. They’re becoming more independent, and with that process usually comes additional friction. You may be frequently tempted to disinherit them altogether. Resist the urge. They actually need you more now than they let on. With your children’s college education looming on the horizon, you’ll want to review your life insurance policies and/or other financial assets to ensure that you will be able to provide them the assistance you would like to if you were alive, while still providing for your surviving spouse appropriately. A review of your guardianship choices in your will is also a good idea. Are you still as close to the person or couple you originally chose to raise your children if you passed away? As the years have passed, are they still the best fit? Having intervening events changed so much that you believe it would be wiser for someone else to rear your children in your stead? Although this is not a decision that should be taken lightly, it’s not one that is written in stone either. As a conscientious parent, you need to make those decisions and take those actions that are currently in the best interests of your children.

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