Estate planning and elder law attorneys provide assistance with the key estate planning issues that you must address as you look towards your future. There are many different reasons to create an estate plan, even if you are relatively young and in good health. You never know what tomorrow will bring, so planning to protect your family and assets is vital. This can be especially true if you have children under the age of 18.
If you have kids, you should make sure that you have a plan for who will become the children’s guardian if you are not able to raise them. An estate planning attorney can help you name a guardian for your kids and can guide you through the process of making sure that your children are provided for financially even if you become incapacitated or pass away.
Naming a legal guardian for your children is important because you don’t want uncertainty over who should raise your children if you cannot. While the child’s other parent would typically raise the kids if you pass away, there are circumstances where both parents pass away at the same time or circumstances where there is no other parent available. If there isn’t another parent to take care of the child, the kids could get caught up in a custody battle and could face uncertainty about where they will live and who will care for them.
You don’t want your children potentially ending up in foster care because you haven’t made plans for them, nor do you want your kids to be caught in the middle of family members who are fighting over them. You also want a say in who raises your children so you can select a guardian that reflects your values.
When you are deciding who you want to serve as guardian, an estate planning attorney can provide advice and insight into the roles and responsibilities of a guardian so you can have the information you need to make your choices. You typically will want to pick a person who is able and willing to raise the kids into adulthood – barring any unforeseen circumstances – so your children do not end up losing another parental figure. You may also want to select a guardian who will keep your child close to extended family and who you feel will raise your child in the way that you believe is right.
Making a decision on who should be your child’s physical guardian may not be the only choice you need to make. You may also need to make a determination on who should be in charge of managing the assets you leave for your child after you pass away. While you could use different tools to transfer assets to a minor in an effective way, such as through the Uniform Transfers to Minors Act, you need to understand what approach will work best for providing your child the right financial help at the proper time. Our firm can help.
The attorneys at SinclairProsser Law can provide compassionate and knowledgeable legal advice when you are making some of the most difficult decisions of your life. No one ever likes to think about not being around to raise their children, but if you do not plan for this tragedy, your children could end up in a much worse situation. Our legal team will make the process of choosing a guardian as simple as possible and will help you to use the necessary estate planning tools to ensure your children will always be provided for.
To find out more about how an estate planning and elder law attorney at our firm can help you with making an estate plan that protects your kids, join us for a free seminar. R.S.V.P at www.sinclairprosserlaw.com/seminars/ and don’t forget to download the free estate planning worksheet to focus your mind and prepare for the information that will be presented at the seminar.