What does estate planning look like for a young family with small kids?

For a young family, the priorities are protection, not tax avoidance. First, a will that names a guardian (and a backup) for your minor children — this is the central reason to act now. Second, term life insurance large enough to replace your income and cover the mortgage and future college, since your kids depend on your earnings. Third, name and update beneficiaries on every retirement account and policy, with a plan so a young child doesn't inherit a lump sum directly — often a trust or a custodial arrangement managed by a trustee until they're older. Add a durable power of attorney and a healthcare proxy for each parent. Don't forget naming a trustee to manage money, which can be a different person than the guardian who raises them. Start at wealthserene.com/goals/protect-your-family to map the essentials in order.