This page is an estate planning page just for moms.
First-time moms, Second-time moms and moms in general will benefit from learning from this page/topic.
As a new mother to a new bundle of joy in 2016, I realized that there is a great need to share estate planning information with new moms. This page is for educational purposes and is intended to explain what it means to prepare an estate plan. In meeting new mommies in Pregnancy classes and Labor & Delivery classes, I realized a number of expecting moms and new moms had the same questions about estate planning while other had unique family structures and circumstances. A few had questions and did not realize they were asking estate planning questions until I informed them of such. Read through the information below and call if you have questions about the topic in general or if you’d like to discuss your needs.
What To Do Before Your Baby Arrives
Upon learning that I was expecting, I did what all happy and excited pregnant women do: plan the nursery, plan the spring cleaning, plan financially, plan the baby shower attendance and trips, plan for the baby’s care following delivery, and a whole lot of other fun planning. In addition to the fun I had planning these listed tasks I also switched gears a bit and planned important things such as life insurance and savings. Thanks to my career, I was also fortunate to plan one other aspect: the estate plan. (Or, in my case, I updated my estate plan).
If you’re a new mom you need an estate plan. So what is an estate plan? Read below.
Take care of your babies with an Estate Plan. Ask How.
What is an Estate Plan?
Estate Planning is making a plan well in advance and naming whom you want to receive your things and care for your kids after you die. Estate planning is something all expecting and new moms need. If you are an established mom with several kids or if you’re part of a blended family (including adopted kids, step-children, and one of many other family compositions, you need this too).
You have gone through nine grueling, yet happy, months experiencing nausea, swollen feet, acid reflux, weight gain, and other pains all while experiencing excitement about the upcoming baby. You wonder – what will my baby look like? whar color eyes will he/she have? what color hair will he/she have? whose personality will my baby have, mine or his/her father? how will my delivery go? After going through the joyous occasion of meeting your new baby, your next question should be – who will care for my baby if one day I can’t? Planning with an Estate Plan can help answer this question.
See what other points an Estate Plan can help you plan as a new mom.
How Else An Estate Plan Can Help
In speaking to expecting moms and new mommies, I learned that there is confusion as to what it means to prepare an Estate Plan. Therefore, review some of the following questions that are involved in estate planning for new moms.
- Who will care for my baby in the event I become hospitalized long-term?
- Who will care for my children in the event I become declared incapacitated?
- Who will care for my children in the event both of the parents die?
- If something happens to me, will my husband have full rights to care for my kids?
- If something happens to me, will my boyfriend have full rights to care for our baby?
- If I die, how do I pass on my house and other belongings to my spouse/boyfriend/significant other?
- If my kids are minors, can I designate one person to care for them financially and another person to care for their person?
- If my significant other and I are not married, what happens to our kids if one of us should die?
These are only a few of the questions that are dealt with in estate planning. Ask your specific questions.
How to Create An Estate Plan for Moms
As part of the Estate Plan for moms, this firm prepares the following documents for you:
- Trust – this document outlines who you are, who your kids are, what you own, whom you want your belongings and kids to go to following your death and a list of your assets.
- Wills – this document outlines who you are, who your kids are, and who you nominate as guardians for your kids in your absence.
- Powers of Attorney – this document helps others take care of you and keep your life as normal as possible if you become hospitalized or incapacitated.
Be Cautious and Meticulous
Your family is important. Plan for their well-being as much as possible with legally effective documents. When preparing your Estate Plan, seek the advice and assistance from an Attorney to help you complete a valid and lawful plan. There are plenty of self-help options out there or even non-attorney professionals that claim to help you prepare your Estate Plan at low rates. Be aware that planning a complete Estate Plan requires plenty of analysis and consideration. Seek the assistance of an experienced estate planning attorney for this special moment in your life when you plan for your loved ones.
A qualified estate planning attorney for moms can help you analyze your family circumstances and prepare documents customized for you. Call this office and learn how we can help.
View the following 3rd-party publications about this topic. This will help further introduce the topic allowing us to discuss this matter and its applicability to your unique personal and business matters. This firm does not endorse the 3rd party site and provides it for general reference only.