Estate planning for minor children is not just for wealthy families. It is something every parent should do.
When creating a plan that includes young children, there are additional considerations. Flourish Law Group can be your guide.
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Until then, a guardian will provide care and oversight.
If you haven’t chosen a guardian as part of your estate plan, the probate court will make that choice. Unfortunately, the court does not know your family history or your children and may not make the choice you would.
In addition to simply naming a caregiver, many of us have ideas about how we want our assets spent on our children.
If you have included a trust as part of an estate plan, you can outline how your assets can be used to provide for your children long-term.
A will gives direction as to who will manage your estate after your death.
This can include a testamentary trust, which requests that the probate court create a trust to hold your assets, typically for the benefit of minor children.
A revocable living trust allows a trustee to manage your assets on behalf of your minor child until they reach the age specified by you.
It provides flexibility and control, allowing you to choose when they receive their inheritance.
The process of appointing someone to take care of a minor child in the event a parent has passed away.
A guardian can be nominated in a will or chosen by the court if no one has been previously nominated.
A legal document that enables a parent to give written authority allowing a friend or family member to care for their children in the parent’s absence, temporarily.
During our first meeting, we’ll learn about your goals and needs for your future.
Then, we’ll talk about what might work for you. Call (954) 698-4570 or click here to get started.
Beyond that, we can offer options that allow a loved one to provide care even if you are temporarily unavailable for anything from an overseas trip to an extended illness.
We all plan to be here for our children as they grow and mature. Having an estate plan that includes directives for our children will ensure that should something unthinkable happen, they will continue to be cared for and provided for.
One of the most important decisions you can make is who will care for your children if something happens to you.
And nearly as important, who will take care of the money you leave behind to provide for them? Don’t leave those decisions to chance.
As parents, we do our best to protect our children, make sure they have healthy food, time to play, strong values, and more.
But so often we fail to plan for the worst case scenarios.
– Lauren Klein, Flourish Law Group
If you fail to name a guardian for your minor child before you die, a judge who doesn’t know you, your family, or your child, will choose the guardian.
It may be a relative or another interested person based on your child’s “best interests.” Of course, the person appointed by the judge may not be the person you would choose.
No one knows the best interest of your children like you, the parent. Don’t leave your child’s future in the hands of a stranger in a courtroom.
Call us at (954) 698-4570 or click here to start protecting you and your family today.
Planning now can help your children by allowing you to:
Having a will allows you to choose who will care for your children should the unthinkable happen to you.
Protect their future assets from mismanagement by creating a trust agreement.
A trust can include a timeline for when your children get control of their inheritance.
Proper estate planning keeps your affairs and your assets private and away from the reach of probate court.
By planning with intention, you can provide for your children under any circumstances.
Flourish Law Group understands that planning for our children is often our highest priority in planning. And we are here to serve you.
Call us at (954) 698-4570 or click here to get started today.
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