• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Unsworth LaPlante is open for in-person meetings! We have taken precautions in our office to ensure the safety and well-being of our clients and staff. To learn more about how Unsworth LaPlante is helping people through the COVID-19 pandemic, click here.

Unsworth LaPlante, PLLC

Vermont Estate Planning Attorneys

Vermont: (802) 879-7133

Attend A Free Webinar
  • Home
  • Our Firm
    • About Our Firm
    • Meet Our Team
    • What to Expect When Working with Us
  • Services
    • Elder Law
    • Estate And Gift Tax Figures
    • Estate Planning
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
  • Resources
    • Articles
    • Elder Law Reports
    • Elder Law Resources
      • Burlington
      • Free Estate Planning Seminars
      • Montpelier
      • Rutland
      • St. Johnsbury
      • White River Junction
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate and Gift Tax
      • Estate Planning
      • FAQs for Families Without an Estate Plan
      • Incapacity Planning
      • IRA & Retirement Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Pet Planning
      • Special Needs Planning
      • Trust Administration
      • Trusts
      • Wills
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
      • Medicaid Analysis Worksheet
      • Medicaid Guide
      • Vermont Medicaid
    • Newsletters
    • Presentations
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning for Niches
    • Top Estate Planning Techniques
  • Webinars
  • Communities We Serve
    • Burlington
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact
Home » The Young Family and Estate Planning

The Young Family and Estate Planning

May 28, 2013 by Stephen Unsworth

Parents of young children face many challenges in estate planning. In many cases, parents are still at the beginning of their careers and have not yet accumulated much in the way of financial assets. Financial planning is easier said than done as current bills need to be met before any resources can be set aside for the future. It can seem counter intuitive to be saving for a child’s education at the same time you are paying for your own, either in student loan debt or in pursuit of an advanced degree.

If you or your spouse were to die, your family financial situation will change dramatically, either directly through loss of income or indirectly in the loss of important care provided to the family. The monetary void needs to be filled.

Whole life insurance is often referred to as an instant estate. Different multiples of annual incomes are often bandied about as to the proper amount of coverage.

Your anticipated needs and your current assets will determine what other insurances you may need. If paying off the mortgage will be a priority, you can consider a term life policy ending at or near the end of your mortgage. You should also consider how your children will pay for college and how the family will be able to maintain your present lifestyle in your absence.

Estate planning can be an important tool in providing for these future goals. You will hopefully see many of the important events of your children’s lives. Proper planning now can make help make the events all the more enjoyable. Life is always easier when you see your plans make your dreams come true.

  • Author
  • Recent Posts
Stephen Unsworth
Stephen Unsworth
Stephen A. Unsworth is admitted to practice in both Vermont and Maine, and has more than 30 years of experience in estate planning and business law. His mission is to provide quality estate planning services, including assistance with Living Trusts, Wills, Medicaid Planning, Probate, Trust Administration, Powers of Attorney, Special Needs Planning, and Family Limited Partnerships.
Stephen Unsworth
Latest posts by Stephen Unsworth (see all)
  • Share Final Arrangement Preferences in Your Estate Plan - April 12, 2021
  • Do You Still Control Property in a Living Trust? - March 31, 2021
  • Can You Change a Trust? - March 22, 2021

Filed Under: Estate Planning Tagged With: Estate Planning

Other Articles You May Find Useful

final arrangements
Share Final Arrangement Preferences in Your Estate Plan
estate planning questions
Consider These Five Estate Planning Questions
intestacy
Do You Still Control Property in a Living Trust?
estate planning
Estate Planning: Where Do You Begin?
Dynasty Trusts
irrevocable trust
Can You Change a Trust?

Primary Sidebar

Elder Law and Medicaid Planning Attorneys

Unsworth LaPlante, PLC

DOWNLOAD OUR FREE ESTATE PLANNING WORKSHEET

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Essex Junction, VT

26 Railroad Ave
Essex Junction, VT 05452
United States (US)
Phone: (802) 879-7133
Fax: (802) 879-0408

Map

unsworth_sidbr_map

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM

Footer

footer-logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Vermont Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

American Academy of Estate Planning Attorneys, Inc. Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2021 American Academy of Estate Planning Attorneys, Inc.