For parents of young children, perhaps the most difficult and emotional part of making an estate plan is deciding who to nominate as guardian of your children. This person will step in and care for your children in the event that your kids are left without parents before they reach adulthood. It can be hard enough for married parents to come to an agreement on this incredibly important topic; but when you’re divorced from your child’s other parent, coming to an agreement can be all the more … [Read more...] about Selecting a Guardian: A Primer for Divorced Parents
Parents w/Young Children
If you’re a parent, you likely put a lot of time and careful thought into choosing a guardian for your children when they were babies or toddlers. But, as time passes and your children grow, the person who initially would have made the perfect guardian might not seem like such a great choice. For example, the grandmother or grandfather who was in perfect health ten years ago might be in a nursing home now. Or, the close family friend whom your children adored when they were preschoolers might … [Read more...] about Estate Plan Update: Time to Choose a New Guardian?
As a single parent, you’re used to doing double-duty, acting as both mom and dad, and taking care of all the details by yourself. And when it comes to estate planning, attention to the details is all the more important when you're parenting by yourself. Here are a few tips for ensuring that your estate plan really takes care of your children: Work with an experienced estate planning attorney. An attorney with years of practical experience to draw on will be in a position to help you identify … [Read more...] about Estate Planning Concerns for Single Parents
What is the purpose of an estate plan? At its most basic, an estate plan ensures the smoothest, most orderly transition possible at the time of your death. This means that your loved ones know where you want your property to go – and how to get it there. It also means that, if you have young children, your loved ones know who is supposed to take care of your children, and what your expectations are for how your kids are to be brought up. A comprehensive estate plan also includes a plan for … [Read more...] about Failing to Plan is Planning to Fail: Why You Need an Estate Plan