When it comes to growing and protecting your family, preparing for the unexpected is critical. Having a legal insurance plan helps to provide a peace of mind and protect the people you care about during important life events such as expecting a child. A legal insurance plan can assist you with the following while expecting:
The adoption process can be very exciting for parents, but it can also be a very time consuming and tedious process. It would be in the best interest of parents looking to adopt to have an attorney familiar with the process assisting them through it. Working with a lawyer can get pretty expensive, but having a legal insurance plan allows parents to get professional assistance without the extensive fees.
Will and Complex Will
Who will care for your child if anything were to happen to you and your partner? It’s not the most comfortable thing to think about, but better safe than sorry. Your will allows you to designate a person to be the guardian for your child and/or manage your money for your child until they reach 18. A legal insurance plan helps you plan for the unexpected and provides access to an attorney that can help you execute your will effectively.
Refinancing of primary residence
What better time to cut back on finances than when you’re expecting a child? “Refinancing is the process of obtaining a new mortgage in an effort to reduce monthly payments, lower your interest rates, take cash out of your home for large purchases, or change mortgage companies.1” There are certain times when you should not refinance including2:
- If you’re planning to move within the next couple of years
- Your mortgage has a prepayment penalty
- If you’ve been paying on your mortgage for a long time and more of your monthly payment is being applied to the principle and not the interest
If the above does not apply, you may want to look into refinancing which could potentially benefit you and help you cut back on expenses. With a legal insurance plan, you’ll have access to an attorney that can advise or assist you with this legal matter.
Being a parent naturally makes you think of your child’s future and it’s critical that in the event that you are unable to care for your child/children, you have appointed a guardian in your will. A guardian should be someone you trust to make decisions about your child’s health, schooling, finances, other important life decisions. Without a will, the court decides who will be the appointed guardian for your child/children.
- "Beginners Guide To Refinancing Your Mortgage." Refinancing Your Home. https://www.mortgagecalculator.org/helpful-advice/what-is-a-refinancing.php.
- Live healthy, live well. https://www.extension.umn.edu/family/live-healthy-live-well/healthy-home....