Bryan Beatty Featured in Bloomberg article, "Having Kids Late Can Tangle Up Your Finances"
May 7, 2015, Bloomberg - There’s more and more gray hair at parent-teacher night. In the past 20 years, With more Americans becoming parents in their late 30s and 40s, Bloomberg Business asked financial planners what issues parents should prepare for when they’re caring for children well into their 40s, 50s, and 60s.
Bryan Beatty suggested not to ignore your own mortality despite the hectic schedule surrounding a newborn. When a baby is born, his or her parents are focused on feeding schedules and fighting sleep deprivation, not on wills and trusts. Still, “they should do it right away,” says Beatty, a partner at Egan, Berger & Weiner, LLC in Northern VA.
Particularly important is choosing a guardian in case anything happens to you. Many young couples choose the baby’s grandparents, but that might not be an option for older parents whose own parents are in their 70s or 80s.
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