ESTATE PLANNING NEWS & ARTICLES
Happy Mother’s Day: Celebrate, then Plan
You’ve made brunch reservations and bought flowers. The kids have made a special card and you bought her favorite perfume or other special gift. Mother’s Day is special because Moms are special. What would we do without them?
What would we do without them? Whether they have been Moms for 1 year or 41 years, their contributions to the household and the emotional well-being of the family are irreplaceable. Therefore, it is not a stretch that Moms would want to plan for a time when they are not around personally to guide their family and do what is best for them.
What to Discuss?
After celebrating this Sunday, pick a day to make arrangements to allow for the following:
- Choosing a caregiver in case of death or illness
- Setting up insurance policies
- Checking beneficiary designations on accounts
- Making decisions about the kids’ financial, healthcare and educational futures
- What possessions should be given to the kids and when
- What to do with Mom’s business if she has an accident or passes away
- Are there savings accounts or insurance policies that will care for Mom and/or the family if someone is incapacitated, hospitalized or passes away?
Every parent rests easier knowing that their kids are provided for and their family is secure and this is one of the greatest gifts anyone can give. Therefore we encourage you too too take some time to plan ahead after you celebrate — it is a great reminder of why we do what we do.