We note on our website at the proven Dayton estate planning law firm of Gottschlich & Portune that our experienced attorneys provide knowledgeable and impassioned advocacy to families “dealing with the challenges of transition.”
Indeed, transition is an integral and natural byproduct of life generally, and something that looms as a constant for something as fluid and organic as a family. Many couples in Ohio and elsewhere ultimately have children. Sometimes a loved one has distinct special needs that must be addressed through careful planning. Married partners age and naturally cultivate concerns regarding asset preservation and inheritances for future generations. These and other things often become focal points of concern in the estate administration realm.
The personal financial website NerdWallet recently spotlighted a single and quite discrete planning tool that can assume central importance for many couples, especially those with young children.
Namely, that is life insurance, an investment that NerdWallet stresses legions of people delay securing and/or inappropriately select.
The downsides of a mistake can be materially costly in the event that a life-altering change comes to pass that results in economic dislocation.
To be blunt: Where will a vital influx of funds come from to care for children if one or both parents pass away from an unforeseeable event, such as a car accident?
Although the type and amount of life insurance that is appropriate will differ from case to case, what won’t change is the fact that having solid life insurance protection is a valuable safeguard for growing families.
Questions or concerns regarding life insurance can be directed to attorneys at an experienced estate planning law firm, who can also provide guidance concerning other planning tools that can optimally work together to promote core objectives.