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Estate planning considerations for single parents

On Behalf of | Sep 10, 2021 | Estate Planning

Estate planning is more than writing a will. It’s planning for the future. It can help you make important decisions about your finances, what happens with your care, and the future of your children. An estate plan can help put your mind at ease and help you make these important decisions well ahead of time.

At Telpner Peterson, we’re dedicated to helping parents and families plan for the future. Our experienced Council Bluffs estate planning attorneys know how powerful an estate plan can be, and they’re ready to build one that works for you. And whether you need to make decisions about your children’s well-being, yourself, your finances, or your business, we’re here to make the plans you need.

To discuss your situation and your goals for the future, call us or reach out to us online today.

Planning Your Estate as a Single Parent

As a single parent, you likely understand the value of planning ahead. It can help you structure your day and make time for the important things like spending time with your kids. But good planning can help with more than day-to-day living. It can help you make important decisions and get things in place for the long term.

Some of the key estate planning tools that could help you include:

  • A will. A will is a critical part of any estate plan and passing away without one can lead to confusion. Wills allow you to leave money or property to specific people such as your children. They also allow you to designate a guardian for your children if you pass away. By drafting a will, you’re getting a plan in place, and that can help both you and your children.
  • Living trusts. In some cases, parents want to set money aside for their children in advance. Trusts come with important benefits like keeping assets out of probate, maintaining control of resources, and adding conditions to when a child gets the resources. Living trusts can be useful for estate planning and could be a good fit for you.
  • Powers of attorney. There may be times when other people need to make decisions for you. Power of attorney forms allow you to decide who speaks on your behalf, and who has power to make choices for you. These powerful documents allow you to give clear instructions and to let others know what choices they should make for you.

These are only a few of the tools that could help you plan for the future. To learn more, speak with an estate planning lawyer today.

How a Lawyer Could Help

An experienced lawyer works with single parents and knows how to help them plan for the future. From providing advice on planning to draft key forms, a lawyer has the skill and knowledge to plan for you. Essential ways that a lawyer could help include:

  • Answering your questions about estate planning
  • Explaining how estate planning law could affect your finances and your children
  • Providing options and tools such as trusts and powers of attorney
  • Drafting documents that detail your choices
  • Helping you keep assets out of probate
  • Building plans that work for you and your children

Speak With Our Estate Planning Lawyers Today

If you’re a single parent, contact Telpner Peterson to discuss how an estate plan could protect your children. We’ve helped families just like yours in Iowa and Nebraska since 1952, and we have the experience necessary to help you establish a sound estate plan that meets your goals. Whether you need advice on trusts and planning tools, or need to get a will in place, our lawyers have the skill and knowledge to serve you.

Estate planning is planning for your children’s future. Get started by calling us or using our online contact form now.