To Protect Your Kids, Consider These Estate Planning Steps

To make sure your children are taken care of if something happens to you, it’s important to appoint a guardian, establish a trust and ensure there’ll be financial support.

A young family of four look at a tablet while cuddled together on the sofa.
(Image credit: Getty Images)

Parenting is hard. From the moment your child comes into your life, you become responsible for that child until they reach adulthood. But what if something happens to you and your partner? How can you be sure your child is taken care of if you are gone? It’s something people don’t like to think about, but it is one of the most important things you can do as a parent.

The following are estate planning steps and considerations for parents through all stages of a child’s life.

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Allen J. Falke, CPA, Esq., LL.M.
Of Counsel, Mirick O'Connell

Attorney Allen Falke is the practice group leader of Mirick O’Connell’s Trusts and Estates group and a member of the firm’s Business group. He focuses his practice on tax law and estate and business planning. Allen provides estate planning for high-net-worth individuals and succession planning for business clients. He advises clients on tax matters related to business acquisitions and restructuring, and business formations and combinations. He reviews and advises clients on estate, gift, individual, corporate, partnership and fiduciary tax compliance matters. He also has extensive experience representing clients on audits with taxing authorities.