Caregiving

Estate Planning & Life Insurance

Definition

Who will take care of your kids if something catastrophic happens to you and your partner? Of course both partners will plan together as you think about long-term security for your family and life-and-death medical decisions, but ultimately this cardholder is responsible for making sure the job gets done so you can all sleep at night knowing there’s a worst-case scenario plan (and insurance funds) in place.

Conception

Estate Planning & Life Insurance is needed

Planning

• Researching attorney/insurance agent or online service
• Selecting and informing childcare custodian
• Researching appropriate life insurance (term, whole life, etc.)
• Researching appropriate disability insurance

Execution

• Meeting with attorney to set plan or fill out forms online regarding will/trust, power of attorney, healthcare directive, guardianship designation
• Purchasing insurance policy

Minimum Standard of Care

Does the plan reflect your current family circumstances and is it legally binding and effective?