PLANNING FOR YOUR CHILDREN
Having a Will Alone Simply Does Not Ensure the Care of Your Kids If the Unthinkable Happens to You!
If you are a parent of minor children (or those with special needs) who are counting on you, your estate plan must begin with ensuring your children would always be taken care of by the people you want, in the way you want, no matter what happens.
Without advance legal planning for the care of your children, here’s what could happen:
Your children could be placed into the care of Child Protective Services (yes, even if you have a will in place and even if you have a living trust) and, yes, it would very likely only be temporary, but you never want your children in the arms of strangers.
Your children could be put into the custody and care of someone you would never want, like that one family member who has good intentions, but you’d never want raising your kids.
A judge who doesn’t know you, or your family, will decide who will raise your kids, even if it’s the last person you would ever want;
Your family could get into a long, drawn out custody fight or there could be a challenge to the guardians you have designated;
Valuable assets could be lost to legal battles, court costs and other unnecessary fees through the probate process, a court process that can tie up your assets and deprive your kids of the resources they need to live comfortably;
When your kids turn 18, they get a check for whatever assets are left;
There are unscrupulous people out there who make it their business to look at the public records to find out when 18-year-olds are getting their inheritance check;
Many online and incomplete plans do not address these issues, and do not plan from a parent’s perspective.
Yes, these possibilities concern me too. That’s why I offer a Kids Protection Plan® with every estate plan I draft for families with young children.
What is a Kids Protection Plan®?
A Kids Protection Plan® is a set of instructions, legal documents and even an ID card for your wallet, which you need to have if you have kids at home who count on you for their well-being and care.
If you are ever in an accident, your Kids Protection Plan® will make sure the authorities have clear guidance from you about your wishes for your children. Your loved ones will know exactly who you have nominated as guardian for your children, and that guardian will have detailed, full instructions from you about raising your children the way you would want them raised.
To get started, click here.