Continuing with What’s Next, in the first two parts, we discussed that your estate plan should be flexible enough to make changes as your life changes, and also how you can create additional trusts for different situations. Here in Part Three, we continue with your estate plan and the need to consider what to do with minor children. If you missed Parts One and Two, click here to read
What’s Next for Your Estate Plan – Part One
What’s Next for Your Estate Plan – Part Two
Adding Documents to Care for Your Minor Child
If you have not reviewed your estate plan since having or adopting children, you should consider incorporating some additional tools into your estate plan. You can create a separate document that nominates a guardian for your minor child should you be unable to care for them.
Another tool is a document that grants temporary guardianship over your minor child also known as a preneed guardian for a minor. This can be used if you are traveling without your child or are in a situation where you are unable to quickly respond to your child’s emergency. This document gives a designated individual the authority to make decisions on behalf of the minor child (except agreeing to the marriage or adoption of the child). You still maintain the ability to make decisions for your child, but you empower another person to have this authority in the event you cannot address the situation immediately.
Let Us Elevate Your Planning
We are committed to making sure that your wishes are carried out in the way that you want. For us to do our job, we must ensure that your wishes are properly documented and that any relevant changes in your circumstances are accounted for in your estate plan. If you need an estate plan review or update, give us a call. Contact The Curran Law Firm today to get started.
