NPN members get discount on estate planning at GQ Law
Written by: Jennifer Guimond-Quigley
In my practice, I have the privilege of working with parents of young children. It is always a tough conversation when we inevitably discuss the plan details relative to the death of one or both parents while their children are still young, but I find that it gives my clients comfort to know they can leave behind a trail of love (or what I like to call “Love Legacies”). Love Legacies are a gift or memento for children or other loved ones that you establish now in the event of your death. These Love Legacies encompass ways that you can continue to show love and affection to your children long after you are gone.
Set up an email account for your child
One way to let your children know that you treasured your time with them is to establish an email account for them now. The account login information should be made available to your partner or spouse or written down and kept with your estate plan. You can send emails to the account yourself or invite others to do so as well. The emails can be about anything you want. They can describe events and activities you’ve done with your child or things your child has said and milestones they have reached. The basic premise is this: Your child will someday be given access to the account (whether upon your death or whether you simply turn the account over to him or her at some predetermined age). Those emails will serve as precious reminders of times you spent together.
Establish a digital scrapbook
Many social media platforms allow users to create a digital scrapbook of sorts, allowing the posting of text and photographs in one place (and kept in chronological order). These digital scrapbooks are a way to give your children a glimpse of you and your world and for them to see what you found important throughout their growth. They tell your story and show your children just how important you found it when they lost their first tooth or got their first haircut. It’s also another way for children to have a piece of their parent if something should happen.
Provide for special distributions from your trust
It can be as simple as directing the Trustee to give your children some “fun money” each year on your (the deceased parent’s) birthday. You can make provisions for funds to be made available for travel to a place that was special to you and your children while you were alive. You can even provide for distributions that allow the children to continue to be involved in a hobby or activity that you and the child shared.
These are just some of the ways that parents can provide their children with love from beyond - the only real limitation on establishing Love Legacies is creativity. I spend time with my clients learning about what is important to them and then together, we come up with creative ways to incorporate provisions in their estate plans and trusts that continue to foster the special bond they share with their children—long after they are gone.
Law Office of Jennifer Guimond-Quigley focuses exclusively on matters affecting families. She resides with her husband and two children in Logan Square.
NPN members get 15% off estate planning services. NOW THROUGH 10/31/17: Take an additional $50 off of your will-based plan or $100 off of your trust-based plan.
NPN members: Click here to find out how to redeem the discount!
Posted on April 14, 2017 at 1:45 PM