Legal Essentials for Couples and Parents

How to Care for Your Spouse and Your Children

LegaL essentiaLs for Parents2

table of contents

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 3

Wills & estate Planning . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .page 4

last Will & testament . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 5

Power of attorney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 7

advance Healthcare Directive . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 9

trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 11

conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 15

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about Rocket laWyeR

At Rocket Lawyer, we’re making legal work easier and more convenient for everyone.

We know the law is complex and mistakes can be costly. We also know there’s no replacement for a good lawyer. That’s why we’ve developed easy-to-use technology to help you do more on your own, and backed it up with a network of Rocket Lawyer On Call™ attorneys who are ready to help when you need it.

Since 2008, we’ve used this approach to help over 20 million families and small businesses create legal agreements, plan for the future, and feel more confident.

Visit www.rocketlawyer.com

Rocket Lawyer eGuide DisclaimerThis eGuide is offered for informational and educational purposes only and should not be construed as legal advice. The law differs in each legal jurisdiction and may be interpreted or applied differently based on your specific factual situation. Use of the information in this eGuide is not a substitute for the advice of licensed legal counsel in your state and you should not act or rely on any information contained in this eGuide without first seeking advice from your own attorney.

You want to do everything you can to protect your children and plan for a bright future—whether it’s saving up for a house or funding a college education. Yet in the early stages of your planning, you should also figure out what will happen if things don’t go as you expect. To protect your family, it’s never too soon to start planning for your loved ones if you can’t be there to take care of them.

In a nutshell, this is estate planning. And no matter your net worth or age, a little forethought, organization and some simple legal documents can help your family avoid unnecessary legal expenses and hassles if something unfortunate were to happen to you.

In this guide, we’ll walk you through the entire estate-planning process—from the fundamentals of making a Last Will and a Power of Attorney, to more detailed things like Advance Healthcare Directives and Trusts. Our goal is to help you come up with a plan and make your wishes known so that you can get back to enjoying the special people in your life.

We’ll also cover some other smart legal steps every family should take to protect their children and create stronger relationships.

legal essentIals foR couPles anD PaRents

How to Care for Your Spouse & Your Children

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For many people, a Last Will and Testament is something to put together at some point in the future —like when you have enough money to justify the effort, or when you’re officially “old.” A Will is actually just one piece of an estate plan you should create to support and protect your family. It’s just as important as a savings account, IRA or life insurance policy.

The way the law works, when you pass away without a Will and estate plan in place, the courts are required to make important decisions about your property and your family, including who takes care of your children and who owns your house. While the courts will try to do right by you and your family, they won’t know your wishes unless you’ve put them in writing. Plus, an estate without a Will or detailed plan can mean unnecessary legal expenses, court fees and red tape for those you leave behind.

An estate plan also means that you’ll get to spell out your wishes around medical treatments and end-of-life care. It puts you in control, and makes it easier for your family to make tough decisions on your behalf.

gettIng staRteD

In this section we’ll walk you through the basics of estate planning and how to plan for any possible bumps in the road ahead. Your estate plan may include a:

• Last Will and Testament• Power of Attorney• Advance Healthcare Directive• Trust

Here’s how these documents work together to cover you in any situation.

Wills & Estate Planning

estate PlannIng can HelP you:

•Take charge of exactly of where your assets go after your death, whether that’s to your children, spouse, relatives, a favorite charity or all of those combined

•Decide who will care for your children after your death or if you become incapacitated

•Make arrangements for what happens to you if you become incapacitated

•Appoint people to make decisions on your behalf if you’re unable to

•Explain how you’d like difficult healthcare decisions to be handled on your behalf

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Put plainly, a Last Will is a legal document that specifies who gets your property after your death. In larger terms, it’s a cornerstone of any estate plan and works for individuals at any family planning stage.

WHat you’ll neeD to DecIDe

A Will can be as unique as the person who makes it. But there are some things common to all Wills. Let’s start by going over a few of the fundamentals about your current situation, finances and family.

Step 1: Property

To begin, it’s wise to take stock of the money, homes, land and things you currently have or might have down the road. Try to be as thorough as possible here to make sure nothing slips through the cracks. For example, if you have stocks, mutual funds, retirement plans or even digital assets like MP3s, make a note of these. This list will come in especially handy when you’re divvying up different assets among several people.

Step 2: Beneficiaries

Next you’ll want to choose and designate the beneficiaries of your estate. Typically your beneficiaries are your spouse, children, relatives, close friends or the organizations you want to receive all or some of your stuff. For planning purposes, it’s common practice (and sometimes the law, depending on where you live) to designate your spouse as a beneficiary.

Step 3: Executor

Once you’ve lined up your beneficiaries and who receives what, you’ll need to designate a person to make sure everything gets done according to plan. Known as your “executor,” this person is basically your Will’s representative. It’s probably a more difficult decision than choosing your beneficiaries, because you’ll want to choose an executor who is organized, good with numbers and ideally someone who is familiar with your family and finances. Your executor will:

• Gather your assets• Pay your bills and outstanding debt• Distribute your remaining assets• File any official paperwork

Some states have certain requirements about your executor. For example, you might not be able to designate someone out of state. Also, if you’re concerned about checks and balances, you can always appoint two executors to make sure everything gets carried out according to plan. Either way, be sure to appoint a backup executor in case your first choice is unable to serve. To get more information on the rules where you live,

Will

WHat It Does

A Will communicates to your family and to the courts your exact wishes concerning your property and custody of your children after your death. A Will allows you to

•Decide who gets your property

•Specify how your property is divided among your heirs

•Designate a guardian for your children

•State your wishes for funeral services and final expenses

For young families without a lot of assets, a simple Will often does the trick. If your estate is particularly extensive or complicated, you have a complicated family, or an heir with special needs, you might want to consider some legal assistance to get everything sorted out properly. Otherwise, you can get started now with our Simple Will document.

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check with your county clerk of probate court or an estate planning attorney.

Step 4: Guardians

In what might be the toughest—and quite possibly the most important—part of your estate plan, you’ll need to choose who will care for your minor children if you and your spouse pass away. Think it through carefully, considering not only who would take the best care of your kids but also about where they would be most comfortable. If you are leaning toward your parents or your spouse’s parents as guardians, consider their age and abilities, and provide a backup guardian in case they’re unable to serve as primary caregivers.

HoW to Make It legal

Once you’ve gathered all the details, made your decisions and clarified your wishes, take the necessary steps to make your Will a legally sound document. By finalizing your document the right way, you’ll help ensure that it works as you intended and makes the process as easy as possible for your loved ones. If you’ve already completed the Last Will and Testament document, print your document and follow these next steps to make it legal.

Step 1: Signing & Witnessing

When your Will is exactly how you want it, it’s time to sign and date it in front of one or more witnesses (some states require two, so check with your county clerk or an estate planning lawyer for specifics). Depending on local laws, you may also need to sign your Will before a notary public, who can then notarize the document.

Wills created with Rocket Lawyer include state-specific next steps to make it easy to know the requirements.

Step 2: Make Copies & Store It

You want your Will to be easily accessible to your spouse and children should you die unexpectedly. Make a few copies of your Will for close family members, or others you trust. It’s handy to share your document electronically (like through Rocket Lawyer) so key people have a copy in an easy-to-find location, but keep in mind that most states require the original paper copy to be presented during the probate process. To be on the safe side, keep the original somewhere safe (like a safe deposit box or with your attorney).

Step 3: Making Changes

Writing a Will early in your family planning stages is a smart move, but it also means that life’s big changes—including having more children and acquiring more assets—could require you to change your Will down the road. A Codicil document allows you to change one or more provisions in your Will without having to redo the original document. (You can access a free Codicil to Will form here.)

You can also change your Will by creating a completely new one and following all the steps to sign and execute it.

Your Will is just one component of your estate plan, but it’s an important one. Setting aside the time to craft an airtight Will ensures that what’s yours is easily transferred to your family should anything happen to you.

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What happens if you become incapacitated and you’re unable to make major decisions for your spouse, children or household? This is where Power of Attorney, another estate planning cornerstone, can help.

Like a Will, a Power of Attorney can save your family legal expenses, court fees and other hassles. In most states, if you become incapacitated without a designated Power of Attorney, the courts are required to step in and make these decisions for you, a process that can be both lengthy and costly. When you’re ready to begin this important document, you can find a Power of Attorney form here.

WHat you’ll neeD to DecIDe

Who your Power of Attorney agents are, and what they can and can’t make decisions about, is largely up to you. With that in mind, here are a few things to think about as you facilitate this part of your estate plan.

Step 1: Agent

The first step—and for many the most important—is choosing your agent for Power of Attorney. This is the individual (or individuals, as you may decide) whom you elect to make major decisions on your behalf when and if you’re unable. Just like your choice for the executor of your Will, you’ll want to choose someone who can handle the responsibility. Above all, you’ll want to think about:

• Choosing someone you trust with your finances and family. You might want to settle on someone who handles their own affairs pretty well.

• Whether or not the individual will charge a fee for services, such as if the individual is an attorney as opposed to a family member.

• Whether or not the individual agrees to be your agent in such circumstances.

Quick aside: It’s a good idea to appoint a backup Power of Attorney agent in case the first one passes away or decides not to assume the powers for some reason when the time arises.

Step 2: Powers

Your agent’s powers can be broad or specific, depending on what you decide. For example, you might designate your agent to handle only medical issues if you become incapacitated; or you might grant one agent the ability to make financial decisions and another the ability to make household decisions. It’s really your choice. But to make it easier to manage, the law specifies several categories of Power of Attorney we’ll go into detail below.

General Power of Attorney: This document grants broad powers to

Power of Attorney

WHat It Does

A Power of Attorney document allows you to designate a specific person (or agent) to handle your finances and make decisions if you’re unable to. Whether you experience health issues, are injured, are out of the country or otherwise unavailable, there are several types of Power of Attorney that can work for you. We’ll explain in a little more detail below, but in general your designated agent can:

•Write & sign checks

•Make household decisions

•Sign legal documents

•Make healthcare decisions

•Run your business

•Call the shots on whatever you designate

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your agent, allowing them to make key decisions about your finances, health, business or any other matter that would need your permission.

Special Power of Attorney: This option allows you to grant specific powers to specific agents. For example, you could allow your spouse to make medical decisions on your behalf, your business partner to sign-off for you on business matters, your financial advisor to make the call on your money and assets, and so on. Special Power of Attorney gives you the flexibility to tap into the decision-making skills of different agents. Also, if you don’t want to grant too much power to one individual, this option might give you a little peace of mind in your estate planning.

Durable Power of Attorney: A status that can be applied to both General and Special Power of Attorney, Durable Power of Attorney—also called Enduring Power of Attorney—is the legal term that makes the Power of Attorney powers active even if you become incapacitated. In contrast, a non-durable Power of Attorney is no longer valid if you become incapacitated. A Durable Power of Attorney is often adopted by people who wish other family members to make ongoing decisions on their behalf, for example if your brother, sister or adult child is a doctor, financial advisor or has some other decision-making abilities you trust.

Springing Power of Attorney: If you’re in the military or your career requires you to travel long distances unexpectedly, a Springing Power of Attorney can also be useful. This is a type of Durable POA that goes into effect automatically in certain situations, such as when you are deployed overseas for military service. Springing Power of Attorney grants your agent powers only when these specific situations occur.

Step 3: Execution

The Power of Attorney type you select above will often stipulate when these powers (general or specific) go into effect. For example, if you’re in the military or law enforcement, your Springing POA grants your spouse decision-making powers when you get called overseas for service. Or your Durable POA could allow your daughter, a CPA, the power to manage and invest your money for you. That power would exist as soon as you signed the POA, and it would continue even if you become incapacitated.

Each state has a process for how an individual is

declared mentally incompetent. In your Power of Attorney, you may also spell out your wishes for how a decision on mental incompetence would be made, such as with a written certifcation from the doctor you have a relationship with. If you do not spell out your wishes clearly in your Power of Attorney document, you could lose precious time while a legal determination is made by the courts. If you need a little assistance with how this is all spelled out in your Power of Attorney, speak with an attorney who specializes in estate matters.

If this feels like a lot of information to process, our customizable Power of Attorney explains all the choices you have to make as you create your document. Creating your POA really is a simple process.

“ Rocket Lawyer was just so easy to use and efficient. We had created a Will before on another site, but we weren’t sure if it was state-specific enough, so we didn’t get it notarized. Rocket Lawyer’s step-by-step process put us at ease, and felt like a site we could trust.”

—Michelle H. Rocket Lawyer On Call® Customer

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After you’ve established Power of Attorney privileges, it’s a smart next step to create a plan in case you’re in need of life-sustaining treatment or end-of-life care and you can’t make decisions for yourself. We can walk you through how to prepare for such a situation to minimize suffering and expenses for your loved ones.

WHat you’ll neeD to DecIDe

It’s wise to make your Advance Healthcare Directive as specific as possible, taking into account not only aspects of medical care and treatments but also more detailed and personal information concerning your goals for treatment and care. This is your opportunity to take control of these decisions so that your loved ones or a medical professional don’t have to make the difficult decisions for you.

Step 1: Choose an Agent

As with Power of Attorney, you’ll want to choose an individual who serves as your Living Will’s representative should you have an accident that puts you on life support. The difference, however, is that this agent’s duties will be to ensure that the directives in your Living Will are carried out, rather than making the decision for you like a Power of Attorney agent.

When selecting this agent—sometimes called a “health care proxy” or “patient advocate”—be sure to settle on someone who is:

• Willing to serve in this capacity• Willing to separate their own feelings from those spelled out

in the Advance Healthcare Directive• Not already—or not expected to be—providing you with medical care

Step 2: The Directive

Here you’ll need to draft your feelings about medical treatment and care should you become terminally ill and unable to communicate. If you find it difficult to think through this topic, you might consider consulting your physician to get a better sense of how doctors and hospitals handle life-support situations and different scenarios. Take note of the following:

Treatments: How would you like to be treated if an accident or illness made you unable to communicate? Make it clear whether or not you want particular efforts made to sustain your life.

Pain Management: Outline what types of medication or pain management you’d like to receive.

Advance Healthcare Directive

WHat It Does

While a Will is a document that expresses where you’d like your assets and property to go after you pass away, an Advance Healthcare Directive, also known as a Living Will, is a separate document that expresses your wishes about life support should you become unable to communicate or become mentally incapacitated. Common situations could include comas, vegetative states, or dementia accompanying disorders like Alzheimer’s disease.

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Personal Grooming & Bathing: You might also specify how you’d like your grooming to be handled during your incapacitation. If you wish to have certain personal effects nearby, you can also put that down in writing.

Spiritual & Emotional Support: You could wish to have certain loved ones or spiritual support in attendance before or after being taken off life support.

Autopsy & Organ Donation: An autopsy will not normally be performed unless the death is considered suspicious. However, if you wish to grant your health care agent the decision to request one, you can make that—in addition to organ donation requests—crystal clear in your Advance Healthcare Directive.

Funeral Plans: You may also specify how you’d like your remains to be handled.

HoW to Make It legal

Once you’ve put together your Advance Healthcare Directive, you’ll want to follow steps similar to what you did to make your Will and Power of Attorney documents official.

Step 1: Sign & Notarize

If you’ve assembled your Advance Healthcare Directive or Living Will using Rocket Lawyer, simply print out the document and sign it in the presence of two or more witnesses and a notary public. You do not need a lawyer or physician present for the signing, but if you’re unsure about anything having to do with the content or validity of your document, the safest route is to check with an attorney.

Step 2: Copy & Distribute

Your Advance Directive won’t be of much use if no one can find it in a time of need, so be sure to make several copies or share it electronically with your close family members, physician, and local hospital if you wish. In addition, keep an original copy handy in your home safe, safe deposit box, or with your attorney.

Step 3: Ongoing Review

It’s wise to examine your Advance Healthcare Directive every so often to make sure everything is up to date. Several reasons for this include:

• A change in your feelings about treatment and care• Updates in medical technology• Changes in healthcare laws• Moving to a new state• Changes in your ability to pay for medical care

Most/Post DocuMents

You might also consider meeting with your physician to craft one-page directives that outline your wishes in end-of-life situations. Called Medical Orders for Scope of Treatment (MOST) or Physician Orders for Scope of Treatment (POST) forms, these documents serve as attachments to your Living Will and are commonly recognized by doctors . Some states have different guidelines for MOST/POST directives, so be sure to check with your doctor or hospital prior to filling one out.

If you’re ready to draft your Advance Healthcare Directive, you can access a Living Will form here.

aDvance HealtHcaRe DIRectIve vs. HealtHcaRe PoWeR of attoRney

As you assemble your estate planning documents, you might wonder if an Advance Healthcare Directive is relevant if you already have a Healthcare Power of Attorney. Both documents allow you to select an agent to make healthcare decisions on your behalf when you’re unable, but the difference lies in the fact that your Advance Healthcare Directive is for impending death-related issues only. To ensure you’re covered in all situations, it’s generally best to have both documents.

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There’s a perception that Trusts are only for the wealthy. In fact, Trusts can be a valuable tool for anyone—especially families who want or need more control over what happens to their assets.

WHo neeDs a tRust

A Trust gives you more control because you can detail how and when your property is distributed. This control allows you to take advantage of certain tax laws, dictate how money is distributed over a long period of time, and have more privacy. Trusts are popular with wealthy families for all of these reasons, but they can be smart for any family that needs to control how assets are distributed.

For example, a family with a special needs child can specify how much to spend on the child’s care each month, and make rules about what types of care the child will receive. Using a Trust makes sure someone with the child’s best interests in mind makes decisions on his or her behalf, and it also helps the child qualify for government aid by limiting their net worth. In contrast, a Will typically gives all assets over at once.

These are a few of the situations where Trusts are especially helpful:

• You have heirs with special needs, like physical or mental disabilities• You have minor children or children from a previous marriage• You have assets to pass along that might be subject to gift

or estate taxes• You want to have more control over how your property is distributed• You’d like your heirs to avoid probate• Your estate is particularly large or complexWhile Trusts give you more control over what happens with assets, they can be more expensive and complicated to create and maintain. It’s best to check in with an attorney or an accountant if you’re unsure what’s right for you.

WHo’s InvolveD

Grantor: The person who sets up the Trust. The grantor is the person who assigns their assets to the Trust: typically you, or you and your spouse.

Trustee: The person or entity who manages the Trust. During your lifetime, the trustee can be you. The trustee can also be any person you trust, a lawyer, or a financial institution. Once the Trust is established, the trustee manages the assets with the ultimate goal of distributing the property to the beneficiaries. The trustee has a duty to follow the rules you set when you create the Trust, and to act in the beneficiaries’ best interest.

Trusts

WHat It Is

A Trust is a separate legal entity—kind of like a corporation—that you give all your assets and property to during your lifetime. Your assets continue to benefit you while you’re alive (i.e. you can live in your house and draw money from your bank accounts), but they’re technically the property of the Trust.

Like a Will, the Trust allows you to specify where your assets will go after your death. But because the Trust owns everything when you die, there are no assets that need to go through probate court. Avoiding probate means you’ll save on expenses, your heirs should receive property sooner, and it won’t be a matter of public record.

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You might want to consider consulting an attorney or financial advisor when it comes to deciding on a trustee. Depending on the terms of the Trust, the trustee could need to serve for a long time, so some prefer to name a financial institution. On the flip side, financial institutions can be expensive and inflexible to work with, so many prefer to name a lawyer or a responsible family member.

Beneficiary: The individual(s) who eventually receive the assets from the Trust. During your lifetime, you’re the beneficiary. After you pass, the people you’ve named benefit from the Trust.

WHat you’ll neeD to Do

Step 1: Decide on a Type of Trust

There are two common types of Trusts which allow your assets to bypass probate. The one you choose will depend on the extent to which you want to maintain control of your assets during your lifetime, whether or not you’re willing to exchange control of your assets for additional tax savings, and the desire to shelter the assets from your creditors.

You’ll select between:

Revocable Trusts: When you create a Trust, you technically give up ownership of your assets. This type of Trust can be revoked at any time during the grantor’s lifetime, meaning you can regain ownership. Because of this flexibility, the assets do not receive special tax protection or sheltering from creditors during the grantor’s lifetime, or after their death.

Irrevocable Trusts: When a grantor transfers

their assets into this kind of Trust, it’s permanent, and therefore, irrevocable. Because the assets are no longer the grantor’s, they’re protected from certain taxes and creditors. The assets are not subject to the grantor’s liabilities, because they are owned and controlled by the Trust, not the grantor.

It is technically possible to appoint the grantor as the trustee, but it means that the grantor still has control of the assets, and that some of this liability protection is lost. Appointing an independent trustee provides the most protection for assets, because the grantor gives up control.

While this type of Trust isn’t for everyone, transferring your assets into an irrevocable Trust doesn’t mean they won’t continue to benefit you. Remember that trustees are under many legal obligations when managing assets in a Trust, so while you’re technically giving up ownership, the trustee is legally responsible for making decisions in the best interest of the Trust’s beneficiaries—which includes you!

Specialized Trusts: Once you decide whether you want a revocable or irrevocable Trust, you may want to customize it for family certain situations and needs. For example, Minor Children’s Trusts allow for the management of assets for a period of time until your children reach an age you specify, Life Insurance Trusts help avoid estate taxes on life insurance benefits, and Bypass Trusts help you get around some estate taxes. To select the right Trust for your needs, talk to an estate planning attorney who can help you choose what’s best for your family.

Step 2: Setting Up a Trust

It is possible to create a Trust on your own, but it’s recommended to seek the advice of an experienced attorney who specializes in estate planning to walk you through what can sometimes be a complex process. At this stage you’ll want to:

• Gather or determine the assets to put in trust

• Decide upon a trustee to manage the Trust

• Choose beneficiaries for the Trust

• Determine ongoing costs and expenses

If you create a Trust on your own (Rocket Lawyer can help), most states require them to be signed by you and witnessed in the presence of a notary.

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Step 3: Asset Allocation

To make the Trust effective, you’ll need to move your assets into the Trust. This is an important step, since if you pass away without all of your assets in the Trust, probate courts will have to decide how this property is allocated and taxed prior to distribution. You assign assets to the Trust by opening new bank and investment accounts in using the name of the Trust, and changing the title of any property or vehicles to the Trusts’ name.

PouR-oveR WIll

To make sure you’ve covered all the bases, a Pour-Over Will assigns everything you haven’t explicitly added to the Trust. It can also act as a catch-all so all of your assets are included in your estate plan, even if they aren’t placed in your Trust within your lifetime.

Trusts also require some maintenance, which can include filing separate tax returns. It’s a good idea to talk to a lawyer to make sure you understand all of the rights and responsibilities involved with creating your Trust.

kIDs, Real estate & otHeR tIPs

Now that you’ve nailed down your estate-planning cornerstones, you’ll want to take stock of the legal steps you may want to take as you continue to build your family, assets and businesses. No matter what types of agreements you make, it’s always wise to keep good records and get all your legal agreements in writing. A few important ones to keep in your back pocket are:

Child Care Authorizations: When putting your child in daycare or hiring a nanny, you’ll want to

have paperwork in place that authorizes your child’s caregiver to make the call on health or other major decisions while you’re at work or away. Both the Child Care Authorization form and a Child Care Contract are important when you’re taking on a new nanny. It’s also a good idea to complete a Child Care Authorization form if you plan to travel for an extended period of time.

Insurance Policies: Make sure you have good insurance policies in place to protect your car, home, rental unit, pets and life. Good coverage will help you to be ready for anything, and protects your family, just in case. Note that the beneficiary that’s named in an insurance policy will receive the proceeds, no matter what your Will says. Be sure to update beneficiaries if you ever change your estate plan. If you create a Trust, naming the Trust as a beneficiary is a good way to make sure your wishes are followed.

If you have any questions about what insurance you need, or if you have enough, we have partners who offer free consultations.

Small Business Records: If you have a small business, it makes good sense to keep your corporate records, insurance policies, liability and other legal documents separate from family records to avoid any unnecessary hassles in the event something happened to you.

Family Employees: Do you have a nanny or a gardener? Did you have a written agreement in place the last time a handyman came over? Creating formal agreements is essential to avoid misunderstandings and set clear expectations with people who do work for you. From childcare to home improvement, make sure you have the right contract in place.

Big Ticket Transactions: When buying and selling homes, automobiles or other big ticket items, be sure to save all documents having to do with the transactions. We can provide you with a Bill of Sale that legally transfers ownership of these items when you buy and sell.

Loaning Money: Throughout your life you might choose to borrow money from a bank or family member; additionally, friends or family might ask the same favor of you. Detailed paperwork about the loan terms can save you and your family a lot of hassle down the road. You can get a Loan Agreement here whenever the need arises.

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Personal Legal Documents: Some major life stages require official documents like marriage certificates, deeds, birth certificates, passports and Social Security cards. As you apply for certain programs and opportunities for your children, you’ll need to balance the need to have these records somewhere you can access them easily, while protecting them from being lost or damaged. A home safe or a safe deposit box are solid options.

stoRIng & uPDatIng DocuMents

A few times we’ve mentioned how important it is for these documents (which you’ve taken the time to put together carefully) to be accessible to the people who need them in a pinch—your family.

If you have a lawyer, you should be able to store important documents with them. Safe deposit boxes are also ideal storage for your estate-planning forms and other legal documents. Most banks have them, and they are a secure and convenient place to keep everything.

Make sure a few trusted friends or family members know where to find your estate planning documents. Consider telling the people you nominate as agents, trustees, and/or executors—it will make it easier for them to jump into action if anything ever happens to you.

Additionally, when you go through major life changes like deaths, births, marriages, divorces, inheritances, or start new business ventures, you might want to revisit your Will, Power of Attorney, Advance Healthcare Directive and Trust in case some of the details need updating. A good rule of thumb is to revisit and review these documents every few years to ensure that everything is current and compliant with the law.

WHen to talk to an exPeRt

We hope this guide has provided you with enough direction for you to take charge of your estate planning, but you might hit a bump or two in the process where you’ll want a little professional help. For example, if you’re dealing with large sums of money, you have a child or beneficiary with special needs, or you have children from a previous marriage you’d like provided for separately, a lawyer can help you cut through the fog to provide the customized guidance you need.

As a rule of thumb, if you are unsure about something, taking the time to talk to a lawyer is a good idea. It can save a lot of trouble in the long run.

Family and estate planning attorneys are specialists, and can handle your entire estate plan, or be brought in on a situation-by-situation basis. You’ll also likely to need a little legal assistance if you’re the executor of a Will that goes to probate.

Accountants can also help with estate planning, especially when tax laws have an impact on your estate and if you want to minimize inheritance taxes for your heirs.

If you’re in need of personalized guidance for your estate planning, we can help you find a lawyer to answer simple questions or do more detailed work.

LegaL essentiaLs for Parents15

Your family means so much. In the same way that you work hard to provide for your children and household, you’ll want to devote a little elbow grease to your estate planning. Setting up these simple safeguards will ensure that you and your loved ones are taken care of according to your wishes, and with a minimum of hassle and expense.

We can help you create a custom estate plan for your needs. Visit the Rocket Lawyer Estate Planning Center for more of the guidance you need to protect your family.

As you go along,

you’ll probably

have more

questions about

specific state and

local laws too.

Rocket Lawyer

has a network

of attorneys who

can help you

with these estate

planning related

legal questions.

Visit www.rocketlawyer.com

Conclusion

Rocket Lawyer eGuide DisclaimerThis eGuide is offered for informational and educational purposes only and should not be construed as legal advice. The law differs in each legal jurisdiction and may be interpreted or applied differently based on your specific factual situation. Use of the information in this eGuide is not a substitute for the advice of licensed legal counsel in your state and you should not act or rely on any information contained in this eGuide without first seeking advice from your own attorney.

“ Using Rocket Lawyer has been a fabulous experience. A real person guided me through the process of using a Codicil to update my Will, and took away any concerns I had. They gave me the extra help I needed to give me true peace of mind, and I have recommended them to everyone I know.”

—Valerie A.Rocket Lawyer On Call® Customer