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No parent wants to think the worst, but each of us should consider our children’s lives after we’re gone. Our legacy to them is important, especially if something happens to us while they are still young. No matter where you are in your life right now, having children does make you think of the future. Do you ever consider what your children might inherit from you?
Your genetic makeup is just one thing that your children will inherit from you that might be evident from the moment they are born. This is one of the fun things about parenting – seeing a little of yourself and your partner in your kids. Of course, they might inherit any genetic problems too. You can help prepare and even protect your kids if you inform yourself about your conditions now. Read up, ask questions, and find out all you can so your children can use that information to make important lifestyle changes.
Your children might also inherit some of your views and your outlook on life. If you are an active and engaged person, then there is every chance your children will adopt that approach to life too. They say you should lead by example, and perhaps that is more important than we think. Your kids will look up to you, and they will learn from you. They’ll adopt your faith, and they’ll move in your social circles. Can you give them any more than that?
When we think of inheritance, we think of money, assets, and property. If you have children, it’s important you make a Will that clearly defines how you wish your assets to be divided. Your next of kin might also inherit your debts. This is why life insurance is so important. It is designed primarily to clear your mortgage. If you read the blog posts at lifeinsurancequote.co you’ll see you can also ensure your kids pick up a cash sum to cover other costs like the funeral and outstanding bills. Perhaps you want to leave a lump sum for their future?
Do you have any passions or talents in life? Whether your kids share them or not, they will remember you for your love of them. It might be nice to leave a memento or something tangible that represents that passion. If your relationship with their other parent broke down, then you need to consider any items that might be precious to them too. Of course, it is also important to declare your intentions for those items you held so dear. Your Will isn’t just about who gets what. You can also determine what is to be done with those items. It will help avoid any guilt should your kids choose to sell the things you leave them.
What will happen to the home where you raised your children? If you have more than one child, then chances are the property will need to be sold so the assets can be divided fairly. There will be dozens of wonderful memories they can take with them, of course. You might also have collections of photos or other mementos you kept from when they were young. What would you like to leave for your family?