As an Orange County probate attorney, I meet with many young families each month who know they need a will or guardianship nominations to protect their children if something happens to them, but they are at a loss on how to financially provide for their family in their absence.

This is actually a concern for many young families who simply don’t have large savings accounts, investments or other assets that their children could use for life expenses.   To compensate for this, I find many young parents choosing guardians that are financially well off, instead of choosing who they would really want to care for their kids if something happened to them.

Fortunately as an Orange County Probate Attorney, I’m able to intervene and help parents choose the guardians they want by shifting the focus to life insurance.  For young couples, life insurance is a great way to make sure your kids are provided for financially should the unthinkable occur.  Not to mention, the earlier you take out a life policy, the lower your premiums (or payments) are each month.    This could allow you to take out a more significant policy at a price point you are easily able to afford.

Specifically, if you should unexpectedly pass away, money from a life insurance policy will provide your family with:

–          Instant liquidity to cover funeral expenses, medical bills or any other immediate payments that must be satisfied following your death

–          The ability to maintain their current lifestyle and cover expenses such as tuition, mortgage payments, etc.

–          Emotional security knowing their needs will be provided for well into the future

Except in the case of someone who has a serious medical condition, a life insurance policy is a smart choice for parents who want to make sure their kids are provided for financially when they are gone.

However, if you feel overwhelmed by the prospect of buying life insurance or aren’t sure where to start as it relates to getting your overall financial house in order should the unthinkable happen, call our Orange County probate office at (949) 260-1400 for immediate help.

You can also mention this article and you can come in for one of our Family Wealth Planning Sessions for free (normally $750–limited to first 10 callers).  In that appointment I will personally hold your hand and help you take the steps necessary to make sure your children and family stay protected in your absence.   Again, simply call (949) 260-1400 to reserve your spot.