Many people wonder what they should to ensure that they are taking care of their family and loved ones when they pass away. This is especially the case for parents who have young children. Luckily, there are many things that you can do to ensure that your children and family are financially secure. Here are a couple things every person should have.

1. An Estate Plan

An estate plan is much more than just a simple will. In most states, you can write a will in your own handwriting and leave it in your bedroom drawer and it will be honored in court. However, in order to really take care of your family, you need to put together an estate plan.

An estate plan usually consists of a will, trust and powers of attorney. What this means is that in the will you will name a guardian for your minor children. Then the trust will hold all the money. This is for a very important reason. A will must go through a process called probate. This can be long and hard on the family. A trust, however, bypasses probate so that your family and loved ones don't have to wait to get their money. This can be essential if you are the primary breadwinner for your family. You don't want your spouse or children without money while they wait for a will to be probated.

A power of attorney will name someone to take care of your legal, medical and financial affairs if you become impaired. All of these documents will be written and executed by an estate planning attorney to ensure that when you pass away or become impaired, your family is secure.

2. Get Life Insurance

Life insurance is so affordable. There is really no reason that anyone should be without a life insurance policy. The great thing about life insurance is it has a pay on death notice. This means that when you pass away your family can get the money right away. This will help to pay for funeral expenses, pay off any debts, and give them living expenses until they can get on their feet again. Many people do not have the retirement or savings set aside to care for their family long-term. A life insurance policy can be the best way to ensure that your family has enough money to survive.

By getting a good estate plan and life insurance, you can be sure that your family is taken care of.