Just over a year ago I posted an article advising you of the birth of our son, James Douglas Kaune. I also took the time to emphasize the need to do proper estate planning to protect your minor children. Well, James is now 13 months old and his Birthday picture is shown on this posting. Time sure flies. James has been great fun and a joy to have in our lives. We are very thankful to have him!
In keeping with the estate planning for minors theme, I thought it was appropriate to remind you that if you have not prepared a proper Last Will with guardianship provisions and trusts for minors you should do so now to make sure your child or children are properly cared for if something happens unexpectedly. You should also remember to update your beneficiary designations on IRA’s, 401k’s, 403b’s and life insurance to properly make use of the trusts you create under your wills. These are very important items to take care of. I know it can be hectic with children, work and other obligations, but you will feel much better after you take care of this important checklist item. Here is an article with some additional considerations when estate planning for your children.