Back to School Estate Planning
Once the school year starts, the feeling is anticlimactic, and you don’t know what to do with all this free time. Take a few moments, before the major school assignments start coming due, and work on your estate plan. Planning for the worst helps you stop sweating the small stuff, at least temporarily. If the first day of school has come and gone and you are still feeling stuck on your estate plan, contact a Washington, D.C. estate planning lawyer.
The K-12 Parents’ Estate Plan
If you are the parent of at least one minor child, it stands to reason that you live paycheck to paycheck, even if you are married and both spouses work full-time. Despite this, it is more important for you to write a will than it is for someone who is fabulously wealthy and does not have children. This is because there is more at stake than just money and material possessions. Even if there is almost nothing for your children to inherit, you should still indicate who should be the guardian of your children if both parents die while the children are still minors. The guardian will report to the court about his or her management of the property the children inherited from you, and the children will have access to what remains of the inherited money when they become adults.
The Poor Graduate Students’ Estate Plan
If you are a Ph.D. student, you have another reason to write an estate plan, even if you have no wealth to speak of, and you are unmarried and do not have children. You have spreadsheets, Word documents, and other digital files that represent years of original research, even if it has not been published. Your will should indicate who inherits your digital estate, and you should also include instructions on how to access your files.
Contact Tobin O’Connor Concino P.C. About Estate Planning for People Who Value What Matters Most
A Washington, D.C. estate planning attorney can help you get started on your estate plan if you have little material wealth but have a family that you love, whether blood relatives or found family, and a rich intellectual life. Contact Tobin O’Connor Concino P.C. in Washington, D.C. or call 202-362-5900.
Source:
mdcourts.gov/orphanscourt/faqs
