People often have the false sense that planning for their future is something to be done later in life.
 Seems like an odd mindset but it exists more than anyone would care to admit.
 One of the planning areas families overlook is the necessity of an estate plan.
 "But, we don't have anything.
 We're not some rich family that needs trust funds set up.
" And the list of reasons why people don't set up their estate plan go on and on.
While it may be true that the value of assets to be transferred in an estate plan are not be significant, an estate plan is still a vital tool in protecting minor children and a family's financial future.
  One of the key components of a good estate plan is the designation of a guardian for minor children.
 Although most courts are not required to follow this designation if challenged, the reality is that the designation of a guardian is rarely challenged.
 In almost all cases, courts appoint the guardian designated in a Will.
 If there is no designation of a guardian for the children, then the decision of who will raise its children rests in the hands of a judge.
    A simple Will can take care of the designation with little complexity.
 Additionally, it is an important part of the process for parents to discuss the guardian designation with the people being chosen.
 This opens up dialogue on a difficult, but critically necessary subject - the rearing of children if something happens to parents.
  Beyond the guardian issue is the more obvious issue of financial support of the children.
 A Will can contain trust provisions so that assets can be placed in trust for the benefit of children with a responsible person acting as trustee.
 Without the Will, there is no protection of the assets to be sure they are used for the long-term benefit of the children.
 Within the burgeoning "Sandwich Generation," the trust can also protect assets that may be used to care for an elderly parent.
 Without the Will, the dignity and financial support of the parent can be compromised.
  Despite popular belief, planning an estate is not a task reserved for older adults.
 Younger adults, particularly parents and those taking care of parents, need to take the steps necessary to protect their children, parents and financial assets.