By Phil Rarick, Weston Estate Planning Attorney
You and your spouse are finally going out for the evening. The babysitter, a high school student, has arrived and you are loading the young woman with last minute instructions: time for bed, make sure the kids brush their teeth, books to read little Tommy, etc, etc. What is ironic is many such fretful parents leave more instructions for their babysitter when they are out for a brief night out than they do if they would suddenly die.
Many parents have life insurance to provide for their spouse and children. What is missing here is that life insurance without detailed instructions could mean that your son or daughter gets a windfall when they turn 18 and then proceed to blow it on a hot car and high living – your dream of them getting a quality post high school education is up in smoke.