Staten Island Asset protection lawyer discusses life events where estate planning can be critical.

The birth of a child, in particular your first, may be one of the most monumental and life-altering events you experience. Many will say the best event in your life. With this wonderful gift also comes great responsibility. A child’s life and well-being is very dependent on his or her parents and/or guardians, therefore if something were to happen, protective measures should be prepared in advance.
Assuming life goes as intended, an estate plan may not come in to play for many years to come but there are various situations that may arise where an estate plan will be critical to ensure a child is taken care of. In the unfortunate event that a child’s parents pass away, it is essential that a guardian or trustee be chosen in your estate plan to take control of any assets that will pass to the child. Your estate plan should be in place to ensure that your assets are managed and pass in an appropriate manner for your young heirs.
The birth of a child is an amazing time to celebrate. It’s also an important time to have a heightened awareness of the responsibility and planning that should be addressed. If you are in need of setting up a strategic estate plan to protect your assets and the livelihood or your family, give the Staten Island Estate Planning Attorneys at Danna & Associates a call. Our team of experts can help ensure your assets are protected and your family will be taken care of based on your wishes.