Estate Planning for Young Families: 3 Things You Shouldn't Wait to Do

Let’s face it between school drop-offs, snack time, and baseball practice, estate planning isn’t exactly on most parents’ minds. But here’s the truth: if you have little ones, estate planning is just as important as those yearly pediatric checkups.

The good news? It doesn’t have to be overwhelming. Here are 3 must-do steps every Florida family should take sooner rather than later.

1. Name a Guardian for Your Children

This is the big one and one many families forget. If something happens to you and your child’s other parent, the court will decide who takes custody. And while the judge will choose someone with the child’s best interests in mind, they don’t know your family like you do.

By naming a guardian in your will, you can:

• Choose someone who shares your values and parenting style

• Avoid family disputes or confusion

• Give your kids the best shot at stability during a heartbreaking time

  
  

Planning this while you're young and healthy is the perfect time. This is worth doing now and can be updated later if things change.

2. Create a Will and/or Trust

You don’t need to be wealthy to need a will or trust.

A will helps:

• Name a guardian for your kids

• Choose who receives your property

• Appoint someone to manage your estate (a/k/a a personal representative)

  
  

A revocable living trust goes a step further by:

• Avoiding probate (saving time, money, and court involvement)

• Keeping your affairs private

• Managing assets if you become incapacitated

• Managing assets for your minors to avoid guardianship

  
  

Pro tip: Many young families do both a trust for assets, and a will to name guardians and cover anything not in the trust.

3. Set Up a Power of Attorney & Health Care Documents

Estate planning isn’t just about what happens after you pass it’s also about who can help if you're alive but can’t make decisions for yourself.

Life happens fast and illness, injury, or emergencies can leave you unable to:

• Access your own bank account

• Talk to doctors

• Make medical decisions

  
  

Every adult should have:

• A Durable Power of Attorney for finances

• A Health Care Surrogate for medical decisions

• A Living Will to outline your wishes about end-of-life care

  
  

These documents protect you, your partner, and your children if the unexpected happens.

Final Thought: Estate Planning = Adulting with Heart

You’re already doing a million things to take care of your kids; estate planning is just one more way to love and protect them. It doesn’t have to be complicated. You just need a plan that’s legally sound and tailored to your unique family.

Want to take the first step? We’ll help you every step of the way, with zero judgment, and lots of heart.