Moms, have you prepared a will yet? Last week was Mother's Day – a day to celebrate the amazing women who raised us, supported us, and shaped our lives. Whether you're a working mom, a stay-at-home mom or a grandmother helping raise a new generation, having an estate plan is an essential part of protecting your legacy and ensuring your voice is heard, no matter what the future holds.
The Importance of Estate Planning for Mothers
- Protect Your Children: It is crucial to ensure that you have named a guardian to stand in your stead should something happen to you or your co-guardian(s). Losing a parent is difficult enough, however not having the "right" guardian will have drastic consequences on the future of your child.
- Plan Your Future: As the default playdate, vacation and meal planners, mothers are all too familiar with how important it is to have proper plans in place. Why should your child's future be any different? Estate planning not only deals with your estate upon your death but also deals with how your affairs should be managed if you do not have capacity. This takes the burden off your children (and the stress off your shoulders) as your children will have all the tools they need to ensure that your personal needs and your estate are properly provided for.
- Leave a Legacy: We know how hard you have worked. Estate planning allows you to pass on more than wealth. It also allows you the space to pass on values, memories, and the security of knowing your wishes will be respected.
Estate planning can feel daunting, but it doesn't have to be. A Will, a Power of Attorney, and a Health Representation Agreement are great first steps, and they can make all the difference.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
