Today's video is the second in a three-video series on supporting your child in the financial domain. A couple of week's ago I addressed college (and other after-high-school pursuits) planning. In a few weeks I'll be addressing growing financial skills through intentional parent-led teaching by interviewing Thomas Corley, an award-winning author.
Today I am chatting with Randi Johnson of Lilac City Law about young family estate planning. Estate planning is putting in writing (so everyone is clear) your wishes for your children in the unfortunate event of your and their other parent's passing. We will discuss estate planning for typically developing children and the concerns involved when raising a child with special needs.
Specifically, we'll look at considering power of attorney versus guardianship when your child becomes an adult, choosing a guardian and the different types of guardians, examining what a trust is and how it can provide for your child once you're gone, and other important considerations to help your child transition during what will likely be a difficult time for them. Randi does an excellent job of making this topic, which can feel heavy and overwhelming, simple and welcoming.
She offers up multiple resources on her website to help parents who are interested in learning more about young family planning.
Resources
www.lilaccitylaw.com <-- Virtual Wills Offering
https://lilaccitylaw.com/blog/
https://lilaccitylaw.com/protecting-your-family-estate/ <-- free E-book on Family estate planning
https://lilaccitylaw.com/category/guardianship/ blogs about Guardianship for Young Adults with Disabilities
Have a great day!
Dr. Blevins
