A couple came in that had been referred by another financial advisor. The couple had a teenage child and wanted to make sure that their “legal affairs were in order” because they had done no estate legal planning in the past. We will be setting up an estate program for this couple to make legal matters easy or nonexistent when one spouse dies, and then making sure that guardians and trustees are named for their minor child should something happen to the parents before the child is an adult. The simple goal to protect and organize is accomplished.
Planning for unfortunate situations is a real concern for families. Rather than relying on good fortune and the law of averages, prudent families plan for contingencies. While the time and expense of estate planning seem like a “not fun” endeavour, dealing with the mess of having no plan in place is a difficult and expensive process for those left behind.
In this case, our “Essentials Plan” was put in place. A set of legal documents to provide guidance and authority for this family and their trusted agents in the event of an unfortunate event.