The start of the school year in Minnesota brings new schedules and extra expenses. Divorced parents will benefit from tackling these demands head on. Planning during the final days of summer vacation will go a long way toward preventing scheduling conflicts and making sure that fees for uniforms, extracurricular activities and supplies get paid.
Parents can plan for their children's future
There are a number of ways that Minnesota parents can use estate planning documents to make sure their children are cared for in the future. In fact, estate planning is perhaps most critical for people who are also parents. By creating key documents like wills, trusts and powers of attorney, people can direct how their assets will be distributed, especially in the interests of caring for their children. Trusts in particular can help people pass on wealth to minor children and continue to exercise some level of control over how the funds are used.
