Imagine you’ve spent years building your family. Maybe you welcomed a child through IVF, surrogacy, adoption, or after a long journey to parenthood. You’ve chosen a pediatrician, baby-proofed the house, and thought carefully about your child’s future.
But have you chosen who would care for your child if you couldn’t?
At Village Law Group, we believe that once you’ve built your family, protecting it becomes one of the most important things you can do. That’s where estate planning comes in.
Estate planning is not just for retirees or wealthy individuals. It is a way to protect the people you love, make your wishes known, and create a plan for the unexpected.
What Is Estate Planning?
Estate planning is the process of creating legal documents that help protect you and your family during your lifetime and after your death.
A comprehensive estate plan may include:
- A Last Will and Testament
- A Revocable Living Trust
- A Durable (Financial) Power of Attorney
- A Healthcare Power of Attorney
- An Advance Directive or Living Will
- Guardianship designations for minor children
Together, these documents help ensure that the people you trust can make important decisions on your behalf and that your wishes are carried out according to your plan.
Why Is Estate Planning Important for Families?
For many parents, the most important part of an estate plan has nothing to do with money; it has to do with their children.
An estate plan allows you to nominate guardians for minor children, identify trusted decision-makers, and create a roadmap for your family if something unexpected happens. Without a plan in place, many of those decisions may be left to the courts or determined by North Carolina law.
Creating an estate plan gives your family clarity during difficult moments and peace of mind long before those moments ever arrive.
Estate Planning for Modern Families
Families today are built in many different ways, and estate planning should reflect that reality.
At Village Law Group, we proudly work with LGBTQ+ families, intended parents, adoptive families, families created through IVF and surrogacy, blended families, and single parents by choice.
While every family’s circumstances are unique, the goal is the same: ensuring the people you love are protected and your wishes are clearly documented.
For some families, that planning may also include decisions about cryopreserved embryos. If you have stored embryos, your estate plan can work alongside your fertility clinic agreements and other legal documents to help clarify your wishes regarding embryo disposition in the event of death or incapacity. While it is not something every family needs to consider, it can be an important part of planning for those who have built or are building their families through IVF.
When Should You Create an Estate Plan?
There is no perfect age to create an estate plan. However, many people decide to create or update their plan after:
- Getting married
- Purchasing a home
- Welcoming a child
- Completing an adoption
- Growing their family through IVF or surrogacy
- Experiencing a significant financial change
The best time to create an estate plan is before you need one.
Protecting the Family You’ve Built
Estate planning is not really about documents. It is about protecting your children, supporting your loved ones, and making life a little easier for the people who matter most.
At Village Law Group, we believe estate planning is a natural extension of family planning. After all, once you have built your family, protecting it becomes one of the most important things you can do.
Frequently Asked Questions
What is estate planning?
Estate planning is the process of creating legal documents that outline who will make decisions for you, how your assets will be managed, and how your wishes will be carried out if you become incapacitated or pass away.
Do parents of young children need an estate plan?
Yes. Estate planning allows parents to nominate guardians for their minor children and create a plan for their family’s future.
What is the difference between a will and a trust?
A will directs how assets are distributed after death and can nominate guardians for minor children. A trust can provide additional control over how assets are managed and distributed, reduce time in probate, allow for management and changes prior to death, and create guardian and financial planning for families in circumstances that go beyond the death of the parent
What happens if I die without a will in North Carolina?
If you die without a will, North Carolina law determines who inherits your assets, regardless of what you may have intended. Dying without a will almost always requires a probate process to distribute your assets and uses the statutes in place at the time of your death to make those distribution determinations
Do LGBTQ+ families need estate planning?
Yes. Estate planning helps ensure that your legal documents accurately reflect your family structure, relationships, and wishes, beyond what may be standard by the current laws and regulations in place
Can my estate plan address stored embryos?
Yes. If you have cryopreserved embryos, it may be important to review how your estate plan, fertility clinic agreements, and any existing reproductive law documents work together. Clear planning can help ensure your wishes regarding embryo disposition are documented and reduce uncertainty for loved ones in the future.
When should I update my estate plan?
You should review your estate plan after major life events such as marriage, divorce, the birth or adoption of a child, death of a loved one, significant financial changes, or a move to a new state.
Is estate planning only for wealthy people?
No. Estate planning is for anyone who wants to protect their loved ones and create a clear plan for the future. Estate planning can be a vital tool for anyone, and is the best opportunity to have your wishes known.
