In January of this year, our family expanded two five. My wife and I welcomed our second child into the world. Now, there are five of us ... myself, my wife, our son William, our son Landon, and our dog Curly. Whenever you have a child, I always think it is time to sit back and reflect on where you have been in life and where you are going. Also, it is important to make sure that your new born children and family are always protected in the event that something happens to you.
One thing I am always shocked when I speak to married couples with young children is the fact that they fail to have even the basic legal documents in place to protect their family. Furthermore, almost no married couples with young children have a trusted attorney that they turn to to answer these questions and concerns. When you have a child or buy a home, the following is a list of items that I believe every young family MUST have in place:
- Life Insurance - You Are Responsible for Someone Else's Life Now! You Should Make Sure They Are Protected if Something Happens To You
- Will or Living Trust - If Something Happens to You, It Is Important That Your Family is Protected. This Ensures That There are Guardians Named for Your Minor Children, Your Spouse is Left with Enough Money Due to Your Unexpected Passing, that You Do No Leave Your Assets and Life Insurance to an Annual Probate Proceeding Which Results in Your Children Received All of the Money and Assets at Age 18, and that You Do Not Create a Situation of Your Children Being Admitted Into Foster Care While a Guardianship Proceeding Makes Its Way Through Court and You Always Ensure Your Children Are Raised By The People You Would Want Them to Be Raised By and With the Family Values That Are Important To You
- Power of Attorney - If Something Happens To You, It Is Important To Have Someone Named Who Can Make Your Decisions For You in the Event of Your Incapacity
- Healthcare Power of Attorney with Mandatory HIPAA Authorization - If Something Happens To You, It is Important to have Someone Named Who Can Make Your Healthcare Decisions For You, As Well As Access Your Medical Records
- Living Will -It Is Important to Document Your Final Wishes Regarding the Withdraw of Healthcare. Would You Want to Remain Hooked Up to Life Support Machines in the Event that You Are in an Irreversible Medical Condition Which You Have No Chance to Recover? What Are Your Wishes Regarding Organ Donation? What Are Your Wishes and Decisions Regarding Burial and Funeral Instructions?
It is important to make sure these BASIC legal life planning documents are completed if you have just bought a home or recently had a new child. When this type of basic planning is not handled is when severe problems can happen at your death for the loved ones that you leave behind.
Make sure you get your basic legal life planning documents in place by calling our office at (615) 472-2482 to schedule a consultation and we will get the process started for you and completed so that you have peace of mind that you have protected your family.