Helping Mum Plan Her Estate: A Mother’s Day Gift That Matters

Mothers spend their days (and often their nights) thinking about how to keep their families happy and healthy. If you are a mum, you know that love firsthand. And if you are not, you have likely felt it because every life begins with the care of a mother.

This Mother’s Day, instead of flowers that fade or cards that get tucked away, consider a gift that lasts: helping the mum in your life gain peace of mind through thoughtful estate planning.

Estate Planning Is For Every Mum, Not Just The Wealthy

Estate planning is for every mother who wants to protect what she has built and ensure her wishes are honoured. Whether she has little or a lot, her legacy matters — and so does her voice in the decisions that shape her family’s future.

A well-crafted estate plan allows her to:

• Name trusted guardians for her children.
• Outline her healthcare preferences.
• Ensure her finances are handled according to her values.

Without it, her loved ones could face legal complications and unnecessary stress during already emotional times.

A Practical Estate Planning Guide For Mothers

• Take Inventory: List all financial assets and liabilities, including debts, pensions, and retirement accounts.
• Review Key Accounts: Go through bank accounts, insurance policies, loans, and credit cards with your heirs. Provide contact info for each provider.
• Designate Contacts: Identify trusted professionals, like your attorney, accountant, or financial consultant, and share their details with your family.
• Clarify Beneficiaries: Make sure beneficiaries are current across all accounts and policies.
• Protect Digital Assets: Keep a record of online accounts, passwords, and logins. Store this securely with encryption or password protection.
• Plan for Liabilities: Detail how to manage outstanding debts like mortgages or car loans.
• Start Now: Early planning helps avoid confusion and stress during difficult times.

Sources:

1. https://www.manulife.com.sg/en/insights/a-complete-guide-to-estate-planning.html
2. https://thevalleybusinessjournal.com/legally-speaking/item/19118-estate-planning-the-perfect-mothers-day-gift/
3. https://lawmother.com/estate-planning-a-gift-of-peace-and-power-for-every-mother/

Disclaimer:

The information provided is for general information only and does not constitute financial advice. While we have taken care to check the source of the information, we cannot guarantee that the information is accurate, complete, or will suit your individual financial needs. You are advised to seek professional assistance.