Building a Future for Your Teenage Children: Updating Your Estate Plan

by Jack Morrison on June 16, 2011

When your children were young you created an estate plan, right? Well, before you knew it, the years passed quickly and your children have grown up to become teenagers. Have you updated your estate plan to account for the appropriate changes? Teens have different needs than young kids, and it’s equally as important to make sure they are provided for and their future has been carefully considered.                     

Here are a few tips to help you update your estate plan for your teenage children: 

  • Have a talk with your teens about what will happen in the event you pass away. Although this will not be an easy conversation, respect their maturity and their right to know (and possibly provide input about) who they will live with and what assets will transfer to them.
  • Talk to your kids about their inheritance and what you would prefer them to do with the money. Also, be up front with them about the age you determine that they’ll receive the inheritance and why. If you pass away unexpectedly this conversation will prevent any anger, sadness or confusion about the financial decisions you made and why.  

As your children grow up to become young adults, you’ll want to prepare for this stage in their life. Estate planning is not a selfish act—it’s intended to provide for your children and loved ones. My name is Attorney Jack Morrison. As a Worcester, MA Estate Planning Attorney, I assist clients every day with creating and updating their estate plans. Call my office at 508.852.7800 or reach out via our contact form.

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