All in the Family

From the walk down the aisle, to the pitter-patter of little feet, you need a financial plan that’s right for you. We can help you get started and stay invested, so you can enjoy your changing family – and not worry as much about what the future might hold.

Proper estate planning is very important. Up-to-date written instructions and records can help ensure that your children are taken care of and have the opportunities you intended. After major life events such as marriage or having children, make time to revisit your coverage and directives in these areas:

  • Wills & Trusts - Wills determine how your estate will be distributed after you die. Without a will, decisions affecting your assets, your spouse and children will be made by a court. Update your will to include any changes in marital status or new children. Trusts let you control how assets are distributed – especially to children raised by another person. Money is often held until a child is 18 and then distributed in one lump sum, but you can write provisions that keep some or all of the money in the trust until a later date or designate that it be spent on specific items like an advance degree.
  • Beneficiary information - Beneficiary designations can’t be changed by your will and they don’t automatically update. Beneficiary designations can be found on retirement account and brokerage statements. Make sure those funds go to those you intend!
  • Insurance - Life insurance is meant to replace your income and help maintain your family’s standard of living if you die. You select the amount of coverage you want to help your family meet future needs like paying off a mortgage, providing for a college education, or just peace of mind. Also remember disability insurance and health insurance.
Beneficiary Review Checklist

Sometimes, life comes at you fast. And, it can change your financial priorities in the blink of an eye. Revisiting your beneficiaries - especially after major life events - is the best way to make sure that you are taking care of those most important to you.

Take Action

So what can you do to protect your family? Organize your paperwork, review your insurance and beneficiary information and be sure you have a will or trust that reflects your current intentions. Work through the materials under More Resources to the right or contact your financial professional for more help.