Do you know what would happen legally to you, your loved ones, your money, and everything else you care about if something unexpected happened to you?

If you have an estate plan and it is out of date, your assets could be lost to the State Department of Unclaimed Property, or to an unnecessary Court process.

If you do not know exactly what would happen for everyone you love and everything you own, then the first step is to find out exactly what would happen, legally and financially, so that you can decide if the current state of your affairs is okay with you.

"Did you know that 69% of parents have not yet named guardians for their kids? And of the 31% who have, most have made one of 6 common mistakes?" - Deanna DeCosimo

Having a will alone simply does not ensure the care of your kids if the unthinkable happens to you.

If you are a parent of minor children (or those with special needs) who are counting on you, your estate plan must begin with your children always being taken care of by the people you want, in the way you want, no matter what happens.

At DeCosimo Law, one of our areas of greatest expertise is planning for the well-being and care of the children you love.

Begin here with our report on the 6 common mistakes parents make when naming legal guardians for their kids and how you can fix them now.

Then, consider taking the very first step that every parent must have in place (no matter whether you have $1 or $10 million), and name legal guardians for your children for the long-term here.

Finally, if you have not already read the book Wear Clean Underwear, it is the best-selling book on legal planning for parents and it is a must-read. You can get a copy of it with my compliments for free here.

If you and your spouse or partner cannot agree on who would be the ideal guardian(s) for your kids, that is something we can help with. We have special training from the Family Wealth Planning Institute on helping parents work through this critical decision.

Nobody expects to be sued. Just ask the 20 million people involved in lawsuits last year.

Divorce, inheritance, health issues, creditors, employees, theft, changing markets, malpractice suits, sexual harassment claims, natural disasters, and disgruntled business partners are just a few issues that can result in devastating lawsuits for unprepared business owners. The highest level of risk falls on those who think they are immune.

Americans are now more concerned than ever about protecting their assets from creditor claims, taxes, divorce, and other disasters. Rightly so.

What is a pet trust?

A pet trust is a legal arrangement to ensure ongoing care and financial support for your pets in the event of your disability, incapacity, or death.