Young families have many exciting things to look forward to but must make practical choices to ensure a secure future. Hodgkins Law, PLLC provides help to people getting married, having a baby, or embarking on other life milestones. We can provide personalized advice on the legal tools that you need for the purpose of providing financial security for your loved ones. With our help, you can make sure those you care about are always cared for, even when the future is unknown.
To get help with providing for and protecting your family in southern Maine and surrounding areas, give us a call today at 207-358-3270. We can discuss your goals for the future, create a plan that will give you peace-of-mind, and provide personalized solutions for you. We can also provide answers to some of the questions you may have about protecting your young family including:
- What should young families do to prepare for the future?
- When should young families get legal advice?
- How can a Brunswick, ME attorney help young families?
What Should Young Families Do to Prepare for the Future?
Young families need to make a plan to achieve major milestones that come with getting married and raising children. Often, this means making smart financial choices like saving for college, buying a house, and saving for retirement. The assistance an attorney provides can be invaluable in making smart money choices. Your lawyer can advise you on tax breaks available for savings and can help you to protect your nest egg through the use of a comprehensive asset protection strategy.
While everyone can envision a bright future for themselves and their children, it is also essential to make a plan to deal with the possibility of a tragedy. If something happens to parents, for example, there should be a plan in place for what will happen to the children. Who will be the children’s guardian and will there be any financial support provided to the children? Answering these questions is just one of the many important things that young families need to do.
Parents of young children are not the only ones who must plan for incapacity or for the potential for an untimely death. Anyone with a loved one depending upon them, and anyone with any assets to protect, needs to have a plan in place in case they get sick or injured or pass away. If you have concerns about what kinds of medical care you may receive in the future, your plan should also incorporate the use of advanced directives to make your wishes known.
Knowing the right legal tools to use to carry out your plans for the future is complicated, but important. Hodgkins Law, PLLC can help you to use IRA retirement accounts, trusts, guardianship, and power of attorney to achieve your goals for protecting yourself and your loved ones.
When Should Young Families Get Legal Advice?
It is important to get legal advice on retirement planning, financial planning, and other money matters as soon as possible. When you are younger, you have much more time to take advantage of compound interest. This means you can amass a far larger nest egg, even with putting aside less money, because the money will be working for you.
Getting legal advice early on is also important to young families for other reasons. You never know when an unexpected tragedy could strike, leaving you unable to care for yourself and the people who are depending upon you. If you have planned ahead for what happens in these situations, you can save your family untold worry and ensure they do not end up struggling financially at the same time as they are coping with grief.
If you have not already talked with an attorney about how to plan ahead to protect yourself, your partner, your child, and the others who love you, there is no time to waste. Get in touch with a lawyer today to find out what steps you should be taking.
How can a Brunswick, Maine Attorney Help Young Families?
A Brunswick, Maine attorney at Hodgkins Law, PLLC is here and ready to help you and your family get the peace of mind of knowing you’ve taken the right steps towards achieving a secure future. Whether your goal is to provide for your kids in case of incapacity or death, or whether you are focused on saving for retirement and college educations, we can provide the advice you need. Give us a call at 207-358-3270 or contact us online to learn more.