Once you’ve got kids, the idea of a will climbs the importance ladder. What do you want to happen to and for them if something happens to you?
Mark your calendar for October 9 to find out how to set the ladder in legal stone.
That’s when PEPS, the Seattle-based nonprofit that connects, educates, and supports parents from the newborn stage through the teenage years, is hosting a donation-based webinar to help parents understand the process of creating a will. Presented by Megan Gebhardt, a local mom, former PEPS Parent, and owner of Gebhardt Law Office, the online event “6 Steps to Create Your Will” will cover all the decisions and steps in the will process
Gebhardt has authored several articles on will and estate planning on the PEPS Highs and Lows blog, including:
- Estate Planning: Who, What, and Why
- Delegate, Delegate, Delegate
- Common Mistakes When Making a Will
- Essential Planning for Everyone
A perfect fit for PEPS
“Parents provide love, support, and guidance throughout a child’s life,” says PEPS spokesperson Patricia Andre-Edgar. “Creating a will is an example of a caring, responsible action that a parent can take and is one way to ensure the well-being of a child, provide them with financial security, and offer peace of mind during an otherwise difficult time.”
According to Andre-Edgar, Offering such information fits the organization’s mission.
“PEPS strives to share resources that support families throughout their parenting journey,” Andre-Edgar says. “Over the years, we have found that creating a will is one of the most daunting tasks for new parents. When asked, parents say that not knowing how to start and fear about the process prevents them from creating their wills.”
Why a will?
There are many reasons why having a will is essential, especially if you have young children.
“A will is important because it’s the document that allows parents to make a legally effective nomination of a guardian for their child if something happens to them while their child is a minor,” says Gebhardt. “Wills can also protect assets in the event a parent passes away and can ensure assets are used according to a parent’s wishes by providing financial support for minor children and protection from a child’s own misjudgments or immaturity.”
“If a parent doesn’t have an estate plan when they pass, there are default laws and procedures that control who becomes the guardian of their minor child and to whom their assets pass,” says Gebhardt.
Seattle estate attorney Meghan DeSpain concurs and describes and example of a scenario in which guardian designation would be critical: Surviving family members are located across or outside the country, and the parent prefers that their child remain in their school and community under the care of close friends rather than having their life uprooted.
DeSpain noted another scenario in which a will protects children:
“The surviving spouse is the primary heir. If the spouse is, for example, a second marriage and is not the parent of your children, some or all of your estate could go to your spouse and bypass your children,” she explained.
Having a will is especially important for unmarried couples with children. In Washington State, a father’s name is not automatically added to a child’s birth certificate if the parents are unmarried. In that case, both parents must sign a Voluntary Acknowledgement of Parentage (VAP) to get the father’s name added, a step that often gets overlooked or put off in the excitement and hard work of early parenting. If a father’s name is not on the birth certificate, their guardianship of a child can be secured in legal parent’s will.
“I view dying without a will as giving up agency over these important decisions,” says Gebhardt.
What are the six steps
Gebhardt explains the steps to creating the will as:
- Understanding what the available estate planning tools and which ones will serve you best;
- Selecting a Personal Representative for your estate;
- Selecting a Children’s Guardian;
- Creating a Children’s Trust and naming a trustee;
- Determining who will receive your assets;
- Ensuring that your documents are properly executed so that they will be legally effective.
“Everyone is welcome to join the PEPS lecture,” adds Gebhardt. “It’s usually a great group with fantastic.”
Webinar details
The Zoom event 6 Steps to Create Your Will will take place October 9, from 7 – 8:30 p.m.
Register online. You will be asked to donate a minimum of $1 to PEPS at registration. However, parents for whom a donation is prohibitive should contact development@peps.org to register.
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