Every generation has its own unique set of popular names for babies. Some are classic names of family ancestors, some are chosen based on popular celebrities or events of the time, and some are entirely original. According to the BabyCenter website, the most popular names of 2013 were “Sophia” for girls, and “Jackson” for boys. Choosing a child’s name can be challenging, and then all at once, become simple. I have a friend whose parents had agreed upon the name “Linda” for a girl, and then, when her father was driving to the hospital, he heard a song on the radio with a girl’s name in the title – “Amy” – and that was what the baby was named. OK, cute story, but what does this all have to do with an estate planning attorney’s blog? Well, again, that is simple. I just want to remind everyone who has recently become a parent, or is about to welcome a child, that this landmark life event should also include a call to your estate planning attorney. The fact is, when you add a new member to your family, it is very important to revisit your existing estate plan and update it to include your new child. For example:
- Adding your child as a beneficiary
- Designating guardian(s) for your child
- Creating a trust for your child
- Opening CUTMA or UGMA for your child’s future educational needs
Those are just a few things that parents should work on with an estate attorney, and perhaps grandparents, godparents, and aunts and uncles as well. And of course, let me emphasize that if you do not have an estate plan yet, parenthood is an excellent reason to get one started. That’s something I would be very glad to assist you in doing. Just name the time! To schedule a consultation, please contact us at 818.956.9200.
