Estate planning is important for parents who want a say in who will raise their children should they suffer an incapacitating accident, or should they pass away unexpectedly. While most people understand that a will or trust may be used to address how assets should be handled and transferred after their death, estate planning serves many other functions that a new parent should fully consider. You can let your wishes be known and decide for yourself who should raise your children. Without a will to name a guardian for your children, the courts will make the decision under the law. Moreover, disputes may erupt among relatives or between the paternal and maternal family lines.
Read more: 3 Estate Planning Tips For New Parents – Huffington Post Canada