Becoming a parent means preparing for the unexpected—not just for yourself, but for your child’s future. Many assume estate planning is only for the wealthy, but in reality, every parent, regardless of financial status, needs a plan to protect their family.
Why Estate Planning Matters for Parents
Naming a Guardian for Your Child
If something happens to you, who will care for your minor child? Without a legally designated guardian, the court will make that decision. An estate plan ensures your wishes are honored and your child is placed in the right hands.
Providing Financial Stability
Even if you don’t own a home or have large savings, you likely have life insurance, personal belongings, or other resources. A will or trust helps ensure these assets are distributed according to your wishes, providing for your child’s future.
Avoiding Probate Delays
Florida’s probate process can be lengthy and costly. Without an estate plan, your assets could be tied up in court, delaying support for your loved ones. Proper planning allows for a smoother transition.
Planning for Incapacity
If you become incapacitated, who will manage your finances or make medical decisions on your behalf? A durable power of attorney and healthcare surrogate designation allow a trusted person to step in when needed.
Ensuring a Smooth Transition
From designating a trustee to managing digital accounts, estate planning provides a clear roadmap for handling your affairs, reducing stress and potential conflicts for your family.
Regardless of your financial situation, an estate plan gives you control and peace of mind. Take the first step today to protect your family’s future.
Lori Vella is an Estate Planning and Business Attorney. She works virtually throughout Florida and New York, but has her home office in Tampa, Florida. She is mom to a little boy which ignited the passion for helping other families. She and her son enjoy car rides, playgrounds and taking mini-adventures. They also have an organic garden that surprisingly yields vegetables. Lori considers herself well-versed in Seinfeld and welcomes any trivia!
Disclaimer: The Law Office of Lori Vella’s website contains general information directed to Florida residents. This firm does not intend to give legal advice through its pages and/or blog. If you need legal advice, we encourage you to find an attorney licensed in your state. This language on this website does not create an attorney-client relationship between you and this firm.