Florida Estate Planning for Parents with Young and Newborn Children

Nowhere is the need for an estate plan more pronounced than when a parent has minor children or when a new child is expected. Every parent wants what is best for their children, but too many parents overlook the importance of estate planning. Whether you are expecting your first child or already have children, it is critical to ensure that your estate is in order to protect your family.

Important Estate Planning Questions For Parents of Young Children to Ask. Ultimately, parents of expecting or existing children need to consider a few basic questions when thinking about their Florida estate-planning needs:

1) If you become incapacitated (even temporarily), who will be entrusted to make health care decisions (i.e. speak to pediatricians/pediatric specialists, gather health records, pick up prescriptions, sign consent forms, etc…) for your young children?

2) If parent(s) pass away, who do they want to become the legal guardian of their minor child?

3) If minor children’s parents pass away, who is going to receive assets and ensure that funds are used for the care and education of the minor child (do you want to ensure that money you leave is spent in a particular way, e.g. private school, religious summer camp, etc….).

4) Will the legal guardians receive funds directly or do you want the funds held in trust for your minor children until they reach a certain age? (hint, the answer is you want the funds held in trust – and probably well after your child turns 18).

5) Do you need life insurance? If you are expecting children or have young children, purchasing or increasing a life insurance policy is a worthwhile consideration. While our firm does not sell life insurance, we are happy to recommend trusted professionals who do. This can be surprisingly affordable. The average term-life insurance rate on a $500,000.00 policy for a 35 – 39 year old is $26.20 a month according to PolicyGenius.com.

If you are utilizing a revocable trust as part of your estate plan, then you also need to make sure IRAs, 401(k)s, life insurance all list the revocable living trust as the pay-on-death beneficiary.

Schedule A
Consultation Today

We care. We listen. We can help.
No matter what you need assistance with, don’t wait - schedule a consultation today to discuss a plan for your future.
(305) 614-7379
the autHor of the

Florida Medicaid Planning Book

How to Get Medicaid to Pay for Some or All of Your Long-Term Care Expenses:

Without having to wait 5 years | without having to sell your house | without have to go broke first! (a Florida Medicaid Lawyer's Guide For Non-Lawyers)

GET THE BOOK
TESTIMONIALS

What People Say About Us

"Jason and his team are responsive and communicate very well. Jason helped me to get the benefits that I qualified for much faster than expected. I would recommend him highly. My case seemed complicated to me, but Jason explained everything in detail and made everything go quite smoothly. I interviewed several elderlaw attorneys prior to choosing Jason Neufeld."

"Quick turn around time for appointments, great response time, very thorough, never rushed through and soooo easy to do business with over the internet! Read the website info, very very helpful!"

“The attorney Jason and his team are amazing at planning and execution. Me and my family would not trust anyone else with our estate planning needs.”

“I've been very impressed! A friend referred me and I've experienced nothing but perfect service and professionalism. I am extremely grateful!”

“A strong recommendation for Jason Neufeld and his Elder Law firm - very professional, patient, reliable, and experienced. When my father fell terminally ill, I became responsible for his assets and finances overnight, including the daunting task to qualify him for Medicaid. I interviewed several elder law firms but was most impressed by Jason’s client approach and practices. Throughout the process, Jason and his team provided clear guidance and support to successfully complete all the new and complex tasks required as a POA, and more importantly he enabled us to quickly achieve our goals related to Medicaid and estate planning. His fees are more than reasonable for the level of due diligence and support we received.”

Our blog

Recent News & Articles

Serving Elder Law Clients in the Following Areas

Miami, North Miami Beach, North Miami, Miami Beach, Miami Gardens, Aventura, South Miami, Kendall

Hallandale Beach, Miramar, Hollywood, Dania Beach, Ft. Lauderdale, Plantation, Davie, Pembroke Pines

Tampa, Brandon, Sarasota, Oldsmar, New Port Ritchie, Valrico, Bloomingdale, Temple Terrace
FIND A LAWYER NEAR YOU
Contact Us

Let's Talk

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form