By Lorie L. Burch, Owner and Founding Attorney of Burch Law
As a parent who welcomed children into my life a bit later than most, I often find solace in humorously remarking that having kids in your 40s means you’re already well-acquainted with the perpetual fatigue that comes with parenting.
However, the truth is, the journey of parenthood has been an incredibly enriching experience for me, especially as I’ve delved into the world of children trusts and wills.
Every stage of my daughters’ lives brings new joys and responsibilities, and I cherish the privilege of guiding them through life’s many twists and turns. Yet, as someone who faced bullying in my own past, I can’t help but contemplate how I can shield them from the challenges I once endured.
For me, instilling values, compassion, and resiliency in my children has been paramount. I want them to be equipped to weather life’s storms, no matter how turbulent they may be. We devote time to planning memorable birthday parties, arranging playdates, and eagerly discussing our next family vacation.
With the older ones, we delve into conversations about their potential career paths and dream colleges.
It’s a magical journey, reminiscent of the excitement I felt as a child during Christmas time, and the enchantment of Christmas Eve, eagerly anticipating the morning to come. And now, with my 3-year-old daughter, I get to relive that enchantment through her eyes, reigniting those childhood feelings.
Parenthood, undoubtedly, brings an incredible sense of fulfillment to my life. It’s a journey that comes with a vivid vision of our children’s future, filled with dreams and aspirations. But, it’s also essential to contemplate what might happen to them if, for any reason, we aren’t there to guide them along the way.
Who will nurture them, protect them, and impart the life lessons we hold dear?
It’s a difficult question, one that many parents may be hesitant to confront. However, it’s precisely why Burch Law is here.
Get a free review of your current Will here.
Understanding Children in Wills and Trusts: Protecting Your Children’s Future
When it comes to securing your children’s future, two vital legal tools enter the picture: wills and trusts.
These instruments form the cornerstone of estate planning, ensuring that your assets and wishes are managed and executed precisely as you desire.
A will, or last will and testament, is a legal document that outlines your intentions regarding the distribution of your assets upon your passing. It not only designates how your property and belongings should be divided but, more importantly, it allows you to name guardians for your children.
These appointed individuals will provide the love and care your children need if you are no longer able to do so. Having a will is crucial for parents, as it guarantees that your children are placed in the care of individuals you trust.
Trusts, on the other hand, are versatile tools that allow you to specify how your assets should be managed during your lifetime and after your passing. For parents, setting up a trust is a powerful way to protect your children’s financial well-being.
Trusts can be designed to provide financial support for your children, ensuring that they have access to funds for education, healthcare, and other necessities, all while under the guidance of a trusted trustee. Additionally, trusts can have stipulations that distribute assets to your children at specific milestones, such as when they reach a certain age, graduate from college, or get married.
Get a free review of your current Will here.
It is Essential to Include Your Children in Your Wills and Trusts
Now, you might wonder why it’s essential to include your children in your estate plan. The answer is simple: to safeguard their future. Without a properly structured will and trust in place, the state’s laws will dictate how your assets are divided, and guardianship decisions may be left to the court’s discretion.
By proactively planning and including your children in your estate plan, you retain control over their financial security and ensure they are raised by individuals who share your values and beliefs.
In a world filled with uncertainties, your children deserve a future that’s as promising as the one you envision for them. Let Burch Law be your partner in creating a legacy of love, protection, and guidance.
Contact us today, and together, we can build a brighter tomorrow for your precious ones, one where their dreams continue to flourish, no matter what the future holds.
