August 1, 2023
5 Estate Planning Tips for Young Families

Having a family means taking responsibility for the future. Estate planning is an important part of this, and it’s something that young families should start to think about now. Here are five tips to consider:

Start Early:

Estate planning can be a lengthy and complicated process, so it’s important to start it as early as possible. Making sure that all necessary paperwork is in order can help to ensure that your family’s financial security is taken care of in the future.

Make a Will:

Making a will is essential for parents of young children because it ensures that their financial future is secure, no matter what happens. Without a will, guardianship of minor children and control of your assets may be determined by the courts in the event of an unexpected death or illness.

Consider a Trust:

Creating a trust is a helpful way to ensure that your assets are distributed according to your wishes.  A legal trust is a financial arrangement that allows assets to be held in the name of a third party, such as a trustee, so that they can be distributed according to your wishes. You can appoint a friend, family member, attorney or even a company to manage the trust and make sure that everything is taken care of when the time comes.

Choose a Lawyer:

Having an experienced attorney to help you understand all of your options is essential when it comes to estate planning. A lawyer who specializes in wills and estate planning can provide valuable advice and guidance to help you make the right decisions for your family’s future.

Talk to Your Family:

Discussing estate planning with your loved ones is an important part of the process. It can be a difficult conversation, but it’s essential to ensure that everyone understands what’s involved and how it will affect them. Talking to your family can also help you determine who will be best suited to manage any assets or trusts that are created.


By following these five steps, you can be well on your way to creating a comprehensive estate plan that meets the needs of your family. Contact us at Harkavy Shainberg Kaplan to ensure that all  legal requirements are met and that your family’s financial security is taken care of in the years ahead.

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