Remember when your baby was just an infant and you thought he/or she would break like dropped china or porcelain? And then you saw them run right into a glass door and bounce off like a rubber ball and bounce back for more. It was probably back then that you first gave some forethought into getting yourself an insurance policy for their benefit or even an estate plan, in case something accidentally happened to you. But, like many well-laid plans, creating an estate plan or even a trust for the kids was put on the back burner.
When is the right time to set a plan in place to take care of your children, so they are taken care of in the event something unexpectedly happens to you? Probably, right now so that you don’t put it off again. when later could be too late.
Nearly everyone needs an estate plan to pass on their legacy, fortune and property to future generations. Here are some things an estate plan will guarantee for your kids:
Trusts are designed to help avoid estate taxes and help manage your money disbursements to your benefactors. Setting up a trust for your child’s college is a great way to take care of your kids and it is a way to be fiscally responsible. The following are some factors to keep in mind for creating a college trust:
Are you ready to discuss options for your child’s college saving plan? If so, contact our Denver Estate Planning Attorney at Phillips & Blow, PC. Our professionals will go over all financial options for funding your child’s future and college tuition. Our Denver estate planning attorney will provide competent, caring, and professional service while providing them with the highest quality of estate planning services at affordable rates.
We can discuss your estate planning needs for your baby’s college and different options during our consultation. To schedule this meeting, call us at (303) 713-9147 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, Centennial, Wheat Ridge, Golden and Arvada.
John Phillips has now gone to JR Phillips & Assoc. PC. Justin Blow, Denise Husa, and Lexus Bohan are now with Colorado Estate Matters and can be reached below.