Estate Planning

Estate Planning for Moms

May-06 2024

Estate planning is a crucial part of protecting your family's future, especially if you're a mom. It ensures that your children are cared for in your absence, whether due to an unexpected event or natural causes. It's an uncomfortable topic, but having a clear plan for your children's guardianship and inheritance is a true act of love.

Motherhood is an all-encompassing role filled with constant care and concern, yet incredibly rewarding. Preparing your estate plan means you can rest a little easier, knowing you've made provisions for your children at every stage of their lives—from minors to adults.

What Makes Up An Estate Plan?

Understanding the unique needs of moms planning for the future is crucial which is why we've tailored our modern estate planning services to cover all your needs. And don't worry, we'll be by your side every step of the way.

Will or Trust 

A Will and Trust are used to outline how you wish your assets to be managed and who will care for your minor children should it be necessary. While both a will and a trust can serve these purposes, they operate differently. A will goes through probate, while a trust allows for the direct transfer of assets outside of probate. Understanding the differences is key to choosing the right option for your situation, read more about their similarities and differences, here.

Digital Vault 

Manage your digital legacy by appointing a Digital Executor through our Digital Vault service. Here, you can organize online accounts, secure passwords, and express your wishes for the handling of both practical and sentimental digital assets. This planning is crucial for ensuring that your children and loved ones can manage everything from financial accounts to personal mementos like photos and emails.

Health Care Directive

This document allows you to outline your medical treatment preferences if you become unable to communicate them yourself and designate someone you trust to make these decisions on your behalf. It prevents your family from having to guess your wishes during difficult times and ensures that your healthcare choices are respected.

Financial Power of Attorney

A Financial Power of Attorney (POA) is an essential tool for any mom looking to ensure her financial matters are handled smoothly should she become unable to manage them herself. This document grants a trusted person the authority to oversee financial decisions—like managing bank accounts, paying bills, and handling investments. Establishing a Financial POA provides peace of mind, knowing that your finances will be competently managed according to your wishes, safeguarding your family’s well-being during challenging times

We understand that thinking of the unthinkable can be hard especially when you have children. However, taking these steps can protect your children and ensure that your wishes are honored, letting you focus on making memories now. At GoodTrust, we're here to support you every step of the way, ensuring you can approach this important task with comfort and confidence.

For all the moms out there, taking the time to establish a comprehensive estate plan isn't just about asset distribution—it's about giving your family the greatest gift of all: security and clarity during life's unexpected moments. Let us help you secure your legacy and provide for your children's future, no matter what it holds. Get started today.