We often hear from prospective clients that they do not have a large enough estate or significant enough assets to worry about planning for their distribution in the event of incapacitation or death. For most young families, the bulk of the planning to provide for minor children is found in life insurance policies. Designating your minor children as the beneficiaries could lead to unintended consequences. For example, the ultimate recipient of the life insurance proceeds designated to a minor beneficiary is whoever becomes the legal guardian of the minor child. What if that is an ex-spouse, sibling, or parent who is not fiscally responsible. Moreover, what if your child or children have just recently reached the age of majority? They would receive the proceeds in an outright distribution. Most 18-22 year-olds are best served by not having $500,000 deposited directly in their checking accounts. At the Law Office of Justin Baker, we can help you turn the puzzle piece to determine who should take care of your minor children and how to structure the proceeds from IRAs, 401(k)s, 403(b)s, and Life Insurance to make sure that they are protected from creditors and predators as well as to ensure that they are managed responsibly.