If you have minor children and have not yet selected a guardian, you are not unlike many parents who put off this critically important task while waiting for the perfect solution to present itself.
We know that no one likes to think about death. Which is why many people procrastinate when it comes to estate planning. Because it’s for when you die, right? Wrong! When done the right way, creating an estate plan makes your life better.
Those of us who work sometimes feel that we are doing our children a disservice. Sure, we bring home a paycheck that benefits our children, but we may miss their activities and other aspects of their daily lives. This can be especially true in two-earner families. But in addition to greater financial security, our jobs provide opportunities for our children to learn many other life skills that they can use throughout their lives.
Estate planning rarely comes up in the course of regular conversation and if it does, it is usually involves what has happened to a celebrity’s fortune after his or her death. The distance is safe, so the conversation can take place.