Many young families in South Dakota delay estate planning. If asked, they usually say that they are too busy, too young, or simply can't afford it. Other young parents just don't like thinking about "what could happen" if they would die at a young age. However, everyone should realize that their spouse and small children are depending on them - in fact, that's the exact reason why young families need estate planning.
Here are five tips that will ensure a good estate plan for a young family in South Dakota:
- Set out who will be the guardian for your minor children
- How will your property be managed by your estate plan
- Who will get your personal possessions
- Who will manage your estate
- Who will handle your healthcare and financial decisions