New Baby & Estate Planning | Promise Law Hampton VA

New Baby

Please allow us to congratulate you on the new addition to your family! Whether this child is your first or your fifth, Promise Law is here to celebrate with you – and to prepare you and your family for the future.

We make the estate planning process simple by asking all the right questions, creating all the necessary documents, and guiding you on re-titling of assets or change of beneficiary designations as needed. We’ll help you make sure that promises made are promises kept.

Issues to Consider:

Plans need to be made to ensure the baby’s care in the event of your incapacity or death.

        • Who do you trust to raise your child?
        • How will you plan to ensure your funds can be used for their proper care?
        • A child who has special needs (whether your own or a family member’s child) requires thoughtful planning.  Making the wrong choice or doing nothing could result in the loss of important government benefits to which they are entitled, or someone petitioning a court to manage funds for them in adulthood.
        • Grandchildren also can be a reason to consider estate planning, which can include strategies for gifting for education, down payment on their first home, etc.