As a mother, the well-being of your children will always be among your top considerations. Not only do you want them to live a peaceful life, but you want them to have a prosperous and secure future. But with new stories of tragic illnesses and accidents happening every day, you have no guarantee that you will always be there to provide for your children. It is, therefore, essential to plan into the future and begin estate planning. The name may spark fears of death, which you may not want to think about. However, the truth is that we live in an uncertain world.
According to Living Well Spending Less, the question you need to answer is what would happen if your family suddenly lost you? Would there be a way to provide them with care continuously?
Your children are a crucial part of your estate plan. Who do you want to watch over your kids if you happen to pass away? Do you have any plans set for their future? How do you plan to secure their financial future when you suddenly fall ill or die?
Whom do you want to make your life-altering healthcare decisions for you? When you suddenly fall sick and are not able to make any decisions, you need someone who can make them on your behalf. By giving them a power of attorney over your health, they will make all the hard decisions on your behalf.
Additionally, it would help if you clarified whom you want to benefit from your estate. It is common to see families battle in court as they want to receive a portion of an estate belonging to a deceased person. By having a will that lists all your beneficiaries, you will help prevent any fallouts in the future.