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Estate Planning Concerns for Parents

Estate planning questions to consider if you have children.

If you have children, ask yourself:

  • If they are minors, who will take care of my kids if the other parent and I both pass away?
  • Is that same person capable of serving as trustee of the financial issues as well?
  • Are there issues with my children that would necessitate planning for special handling? Does a child have special needs, or is a child in a bad marriage?
  • Are the children old enough and mature enough to handle a large amount of money?
  • Should the money be split evenly or some other way?
  • If you have grandchildren, what happens if their parent (your child) predeceases you? Would you want your grandchildren to receive your deceased child’s full inheritance?

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