Estate Planning | Making a Difference One Family at a Time

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estate planThere are some estate plan details that many people do not think about. This is one of the reasons why you should work with an attorney to develop your plan. In this post, we will look at some of the aspects that you may not consider.

Child Guardianship and Asset Management

You should definitely have an estate plan in place if you are the parent of a dependent child. A guardian for the child should be named in a simple will, and you should consider the matter of asset management for a minor child.

With this in mind, you can make a living trust the centerpiece of your estate plan. You would act as the trustee while you are living, and a successor that you name would manage the trust after your passing.

Another possibility is a testamentary trust, which is a trust that is contained within a will. It would be created after your passing, and the trustee that you designate would manage assets on behalf of the minor child.

Life insurance can be the source of the funding, and a trust can be the beneficiary of a life insurance policy. Even if you have a trust, you should name a guardian for the child in a simple will.

Letter of Last Instruction

You should consider the hands-on tasks that must be completed by your estate administrator after you are gone. They will need some key information, and you can pass it along it in a seminar schedule page, and we ask that you register for the session you would like to attend so we can reserve your spot.

Need Help Now?

If you already know that it is time for you to work with a Glastonbury, CT estate planning lawyer to put a plan in place, our doors are open. You can call us at 860-548-1000 set up a consultation appointment, and you can use our contact form if you would rather send us a message.

 

Jeffrey A. Nirenstein, Estate Planning Attorney
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