If you’re raising young kids, your days are probably full: snacks, school pickups, bedtime routines, and everything in between. It’s a busy, beautiful season of life. And while “estate planning” might not be at the top of your to-do list, it’s one of the most important things you can do to protect your family.

Here’s the truth: estate planning isn’t just for the wealthy and elderly. It’s for everyday families who want to make sure their kids are cared for, no matter what. It’s not about fear; it’s about love.

Let’s walk through what estate planning looks like for young families in Colorado, and how it helps bring peace of mind to the people you love most.

Naming Guardians: The Heart of It All

One of the biggest reasons young parents create an estate plan is to name a guardian, someone you trust to raise your children if something were to happen to you.

Without a document that states your instructions, the court decides who that person will be. And while they’ll do their best, the choice might not reflect your values or your relationships.

By naming a guardian, you’re:

• Giving your kids a sense of stability
• Avoiding family confusion or conflict
• Making your wishes known clearly and legally

You can also name a backup guardian, include guidance about your parenting values, and update your choices over time as your life changes.

Choosing Who Handles the Money

Your estate plan also lets you choose who manages your kids’ inheritance until they’re old enough. This doesn’t have to be the same person who raises them. It can be someone with strong financial judgment, like a trusted relative or friend.

You can also create a simple trust within your will to hold money until your children reach a certain age. That way, the funds are protected and used only for their benefit (like school, housing, or health care), not handed over in full at age 18.

Setting Up Powers of Attorney

Even if you’re young and healthy, life is unpredictable. Estate planning includes:

• A financial power of attorney so someone can manage your money if you’re unable to
• A medical power of attorney so someone can make healthcare decisions on your behalf
• A living will (advance directive) to express your end-of-life wishes
• A disposition of last remains to make sure your choices around cremation or burial are respected

These documents are just as important as a will, and they protect you, not just your children.

What About Life Insurance and Beneficiaries?

As part of your plan, we’ll talk about how your assets are titled and whether your life insurance or retirement accounts name the right beneficiaries. Sometimes, a small tweak—like naming your trust instead of your child—can make a big difference in avoiding legal hassles later.

You Don’t Need to Have Everything Figured Out First

Many parents delay estate planning because it feels overwhelming. Maybe you’re still deciding who would be the best guardian, or you don’t feel like you have “enough” to protect.

That’s okay. You don’t have to have all the answers before you begin. A good attorney will help you talk through the options, weigh the pros and cons, and create a plan that fits your life as it is right now and looks towards the future.

The Bottom Line

Estate planning for young families isn’t about having lots of money. It’s about making sure your kids are cared for and your wishes are known. It’s one of the most loving, responsible things you can do as a parent.

At Lester Law, we make the process simple, affordable, and centered around your real life. We’ll walk with you through each step, explain everything in plain English, and help you feel confident that your family is protected—no matter what.

———–
This website includes information about legal issues. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on your specific legal problems.