|By Marketwired .||
|May 19, 2014 06:00 AM EDT||
LOS ANGELES, CA -- (Marketwired) -- 05/19/14 -- "Before a child is born, parents need to set up an estate plan to protect their family in the event that both parents are suddenly removed from their lives," states Sona A. Tatiyants, Esq. of Tatiyants Law, P.C. "If a mother dies during childbirth or both parents become permanently disabled, a proper estate plan will allow their child to be raised in the manner that they decide as opposed to having a judge decide who will raise their children and how their assets will be handled."
Attorney Tatiyants' law firm specializes in estate planning for young families. On May 29th, she will present the workshop, "Building Your Baby's Safety Net: Life Insurance and Estate Planning," from 6:30 - 8:00 p.m. at the Pump Station, 1248 Vine Street in Hollywood and on June 4th, from 7:00 - 8:30 p.m. at the Pump Station, 2415 Wilshire Boulevard in Santa Monica. Attorney Tatiyants was nominated for two awards in 2014: the San Fernando Valley Business Journal's "Women in Business" award and the Los Angeles Business Journal's "Women Making a Difference" award.
Serving Greater Los Angeles from offices in Glendale and Sherman Oaks, Attorney Tatiyants has seen what can go wrong when young families don't have a plan in place for their children. "After a mother gives birth, she is typically too overwhelmed to have the time or focus to initiate an estate plan and it may be some time before she or her partner is able to set aside the time," says Sona.
"Most parents believe that if they purchase life insurance, their children will be financially provided for after they die. However, even if they name their child as a beneficiary, a guardian of the estate would still need to be appointed to manage their child's money until he or she turns 18. This is a very expensive and time consuming process, and ultimately, a judge will decide how the parents' funds can be used, after their death, for their child's upbringing.
"A better solution is to set up a trust, which will ensure that the child is raised in accordance with the parents' wishes and will dictate how their money is to be spent," she adds. "A trust keeps expenses down, keeps the matter private, removes the child from the court, and will provide peace of mind to the parents that their wishes will be carried out."
Attorney Sona Tatiyants' law practice is focused on protecting her clients, their families and assets in case of death, incapacity and all types of emergencies. Sona builds long term relationships with the families she represents and uses current technology to accommodate parents' schedules, like Skyping with her clients in the evening when their children are asleep. As the mother of two little girls, Sona understands the fear many parents, should tragedy remove them from their children's lives.
Joining Sona for both workshops will be Jennifer Burnham-Grubbs, owner of Quantum Insurance Services, a boutique life and health insurance brokerage firm that provides an emphasis on young families. As a working mom of two, Jennifer Burnham-Grubbs knows just how important it can be to have the right insurance plan in place for a growing family.
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