Estate planning for parents of minor children

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For most new parents, life is about functioning on a few hours of sleep a night, squeezing in a daily shower, and finding clothes that actually fit. Big "to-do's" are easily put on the backburner, and as a result, many new parents fail to create (or revise) Wills, Trusts or appropriate Guardianship documents. In this presentation Jaime Kim discusses the consequences of not having these documents in place, and how parents can provide for their minor children through proper estate planning. Jaime is an attorney with King & Navins, P.C., in Wellesley, MA, the mother of a four year old daughter and one year old son and an avid Isis fan.

Economy & Finance

ESTATE PLANNING FOR PARENTS OF MINOR CHILDREN Isis Maternity Expert Speaker Series Jaime T. Kim Material presented here is intended for information purposes only. It should not be construed as legal advice or the formation of an attorney-client relationship. Please consult an attorney for individual advice regarding your own personal situation.

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Pour Over Will Any individually-owned assets will be directed by the Will and “pour over” to 1 st Spouse’s Revocable Trust AFTER being subject to probate Assets titled in name of the Trust or that name the Trust as beneficiary will flow directly to the Trust upon death without being subject to probate Assets that name 2 nd Spouse as beneficiary Assets owned by 1 st Spouse and 2 nd Spouse jointly Pass directly to 2 nd Spouse Marital Fund Trust is managed for the benefit of 2 nd Spouse until his/her death 1 st SPOUSE’S REVOCABLE TRUST PROBATE COURT ,[object Object],[object Object]

Pour Over Will Any individually-owned assets will be directed by the Will and “pour over” to 2 nd Spouse’s Revocable Trust AFTER being subject to probate Assets titled in the name of the Trust or that name the Trust as beneficiary will flow directly to the Trust upon death without being subject to probate 2 nd SPOUSE’S REVOCABLE TRUST PROBATE COURT Marital Fund Trust is managed for the benefit of 2 nd Spouse until his/her death Family Fund Upon 2 nd Spouse’s death , trust is managed for the benefit of the children 1 st SPOUSE’S REVOCABLE TRUST MERGE Family Fund Trust is managed for the benefit of the children ,[object Object],[object Object]

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HOW DO I GET STARTED? Feel free to bee in touch with any questions or concerns you have regarding your personal situation (781) 237-0150 [email_address] Thank you! ~ Jaime T. Kim

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