If you’re caught in the hustle and bustle of small children, then estate planning for young families is probably not the first thing on your mind. You’re not planning to die anytime soon, and anyway, having too much to do being tired is what concerns you at the moment. You may also think that estate planning sounds like something that’s too expensive given the budget is already stretched tight. However, the truth is that estate planning for young families is vitally important, and in fact, those young children should be more the reason to think about your estate plan.
When you go through a divorce, you’ll find yourself in the middle of managing work, children, property settlements and co-parenting – and often, divorce guilt. It’s often not discussed, but divorce is often a great upheaval in your life, and you may find yourself suffering in the aftermath with divorce guilt. Depending on whether you initiated the divorce and how acrimonious the divorce has been, your levels of divorce guilt and pain may be different, but most people go through a grieving process, and it’s important to know that this is okay.
Despite the increasing awareness of the importance of estate planning, a surprising number of people continue to pass away without a written testament or will. Unfortunately, anyone and everyone can forget to write or update their will. Young people believe they are invincible, and so writing a will seems like a task that can be put off. Young families tend to hate planning for their death because such a topic brings emotional pain or because they’re too busy to consider it. Older people sometimes simply forget or trust their families to work it out, Unfortunately, if you were to pass away without a will, the laws of intestacy apply, and this means that your estate may be divided in a way you wouldn’t want.
Choosing a conveyancer can be a difficult task especially when you just want to secure your new home; often the biggest decision you’ve ever made. Along with moving house, there may be many other things that you need to be thinking about: enrolling kids in a new school, talking to removal companies, asking your friends for help and simply packing box after box may just be a few things on your mind.
The thought of preparing children for divorce may make you feel bad, but it’s important to know that there are ways you can make the process much easier for your kids. A traumatic result is not inevitable if parents are proactive and communicative (but not over-communicative) about the what and the why of the divorce. A parent’s behavior at the outset of the process of separating can either ease or amplify pain when preparing children for divorce. Even after the divorce, remember that you’ll still have to co-parent together, so trying to have the best relationship possible in a difficult situation will mean that everyone gets the best possible outcome. If you’re thinking of divorce, it’s best to get the conversation started early so the child knows what may happen.