5 Ways to Protect & Provide For Your Family Now

8:40 pm Asset Protection, Estate Planning

number 5 copy 150x150 5 Ways to Protect & Provide For Your Family NowThere are a few important practical estate planning moves you can make right now to help protect and provide for your family:

Life insurance – parents should consider buying a life insurance policy to provide support for a child if one income-producing parent should die unexpectedly.

Trust – you can protect assets for your child by setting up a trust with a distribution option for when he or she reaches adulthood.

Gifts – there are tax advantages to gifting portions of your estate to your children while you are still alive, which can help reduce estate taxes.

Guardian – one of the most important reasons for parents to have a California estate plan is to legally name a guardian for your children; you can always change your choice if necessary, but if you don’t make at least one choice, the state will do it for you.

Will – be sure to either create a new will or update your existing will to include a new child.

For more estate planning strategies to help you protect assets for your family, contact our Orange County law firm.

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.