St. Petersburg Estate Planning For Children & Young Adults
As parents, we are the ultimate organizers and planners of our children’s lives. From the moment they are born until they turn 18 we plan their education, sports and hobby activities. Yet, we put off making plans for who we want to care for our children should something happen to us. Contact our experienced St. Petersburg child & young adult estate planning attorneys today for more information.
Unimaginable accidents happen. If something happened to you and you weren’t able to communicate your wishes, who would care for your children? Did you know that if the police do not have clear instructions from you about who is to care for your minor children, they could be put into the custody of Child Protective Services?
Envision how traumatic the situation would be for your children. You’re gone. They are living with strangers—scared, hurt and angry.
The Kids Protection Plan® is a set of instructions, legal documents and an Emergency ID card for your wallet that provides directions for estate planning of your minor children should something happen to you and you cannot communicate your wishes.
Your Kids Protection Plan® will ensure your children are raised by the people you choose, who share your values and beliefs.
Click here to get started right away by naming your legal guardians for your minor children for FREE.
Your Kids Protection Plan® Includes:
- Legal documents to name short-term guardians who can be there immediately for your children so they’ll never be taken into the arms of strangers or anyone you wouldn’t want. Not even for a moment!
- An ID Card for your wallet that notifies first responders that you have minor children at home and identifies who to call in the event of an emergency.
- Legal documents to name long-term guardians who will raise your children just as you would, so there is no family feuding over your children.
- Instructions and guidelines for your long-term guardians on how you want your children to be raised… making sure they are raised with your values, insights, stories and experience.
- Letters to your long-term and short-term guardians letting them know what to do if called upon.
- Medical Powers of Attorney for your minor children so the next time they travel without you or you travel without them, you know they will receive the medical care they need.
Estate Planning for Millennials
As the Baby Boomer generation ages into the seniors of our society, the up-and-coming adult generation is the Millennials. As Millennials become a significant part of the workforce, these young adults will be earning more substantial paychecks and will need to decide what to do with the money they earn. Millennials are the most educated and tech-savvy generation to date and, therefore, they have a lot of potential for financial success. You would think that this would increase the number of Millennials who are looking into their estate planning options.
However, a common theme for Millennials is that they want to focus on their quality of life in the current moment instead of necessarily thinking about or planning for the future. Instead of investing their income, they may want to spend it on trips around the world or other adventures. In addition, many Millennials are delaying major life milestones such as marriage or having children. This means that they may also delay steps such as purchasing life insurance, starting retirement accounts, or establishing an estate plan, as those are generally steps people take when they start a family or have loved ones they want to support.
Millennials are known for writing their own rules and it is no different when it comes to estate planning. Instead of sitting down and designing a traditional estate plan, Millennials may want a plan that fits their needs at this time. For example, if you are a Millennial, the following may apply to your estate planning:
- You should have at least a simple will executed before you embark on risky adventures such as skydiving or mountain climbing;
- You may not have children, but if you have pets, you should designate who will take care of your beloved pet if something happens to you;
- You should determine who you want to access all of your digital assets and ensure that your Digital Estate Plan provides the passwords and usernames needed, as well as your wishes for what should happen to your digital assets; and
- You may still be pursuing your higher education or vocational goals, and therefore, you should designate who can act for you (typically a parent) and make important decisions with regard to matters affecting your property, finances and health, in the event you are unable to make those decisions on your own.
These are only some of the concerns that Millennials should consider when it comes to estate planning.