• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Sexton, Bailey Attorneys, PA

SEXTON BAILEY ATTORNEYS, PA an Arkansas Estate Planning & Trust Information Center

Sexton, Bailey Attorneys, PANorthwest Arkansas Estate Planning Attorneys(479) 443-0062

Client Vault
  • Home
  • Our Firm
    • About Our Firm
    • About the American Academy
    • Advantages of Working With Our Firm
    • Attorney and Staff Profiles
    • News & Events
    • Our Reviews
    • Speaker Connection
  • Estate Planning
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Incapacity Planning
    • Legacy Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Webinars
  • Practice Areas
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Resources
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • FREQUENTLY ASKED QUESTIONS
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning
      • Medicaid Planning
      • Pet Planning
      • Trust Administration & Probate
    • Newsletters
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Contact Us
  • Blog
Home / College Planning / Estate Planning Considerations for Parents with Young Children

Estate Planning Considerations for Parents with Young Children

November 23, 2011 by Audra Bailey Wilcox Leave a Comment

Parents with young children have many added responsibilities, including the need to plan for the future.  With the right planning tools in place, you can make sure that your children are always protected.  We’ve taken the time to outline some estate planning considerations, to help you think about your planning needs.  If you have any questions, or if you’d like to discuss other ways in which parents with young children can plan for the future, contact an estate planning attorney.

 

  • Who will be the guardian for your minor children?  With your Will, you can appoint a trusted and loving guardian.  Many parents with young children forget about this important need.  You also need to appoint temporary lifetime guardians in case you are ever disabled and unable to care for your children.  This can’t be done in a Will; your estate planning attorney will draft a stand-by guardianship authorization as part of your estate plan.
  • Do you want to provide for the management of the assets that you leave behind? With an estate plan, you can appoint a custodian to manage the assets that you leave behind for your minor children.  This ensures that the money is used correctly to benefit each child.  Trusts are a great way to leave assets for children.
  • Do you want to invest in life insurance so that your children always have the money that is needed to survive? Life insurance policies are especially beneficial for individuals who have families.  This makes it possible to have assets for the continued care of loved ones.
  • Would you like to begin saving for future college expenses?  It can be beneficial to start saving for college as soon as possible.  There are many great planning tools that make this possible.  For example, this may include using a 529 plan.

 

As a parent, it’s important to focus on the future.  Make sure that you have a solid plan in place so that your children are always protected.  If you have any additional questions about the above ways in which parents with young children can plan for the future, consult with a qualified estate planning attorney.

  • Author
  • Recent Posts
Audra Bailey Wilcox
Audra Bailey Wilcox
Attorney at Sexton, Bailey Attorneys, PA
Audra Bailey Wilcox
Latest posts by Audra Bailey Wilcox (see all)
  • Bill Nye the Science Guy on Wearing Masks in Public - July 11, 2020
  • Low-Interest Loans: An Estate Planning Technique - June 23, 2020
  • Irrevocable Medicaid Trusts - June 16, 2020

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Sexton, Bailey Attorneys, PA

Is Your Plan Outdated?

Subscribe to Our Blog

Office Address

Fayetteville
2766 Millenium Drive
Fayetteville, AR 72703
Phone: (479) 443-0062

Office Address

Prairie Grove
1100 Division Street, Suite 4
Prairie Grove, AR 72753
Phone: (479) 846-6026

Office Address

Farmington
6 West Main
Farmington, AR 72730
Phone: (479) 267-4441

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for office
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

footer-logo

© 2021 American Academy of Estate Planning Attorneys, Inc.