What You Should Know About Estate Planning For Families in St. Helena, California
Having your own child means a great number of responsibilities. One of these is securing necessary protection for your kid in the event of an accident or untimely death.
For new parents, just the thought of making a will for their children can be overwhelming. They are so busy that creating a will is not their top priority. In spite of that, having an estate plan is vital to make sure that your kids are well taken care of if anything happens to you.
A will can provide security and certainty by choosing a legal guardian and securing the assets you wish to leave your family. Arranging all your properties is one thing, but you also need to pick who will take care of your children regardless of what your assets are. Make sure that this person is willing to take all the responsibilities of taking care of your kids. Consider her parenting philosophy and that she can make her guardianship determinations.
You must also consider your children’s financial needs after your demise. Utilizing their trust fund in your will hinders your children’s inheritance from being placed in a locked account that is controlled by the court. Name a custodian of the trust who will be responsible for supervising the funds that will be used to raise your kids.
Keep an inventory of your legal documents and assets to make it not difficult to determine what you own. Make a list of all the papers and let your attorney know where to find the list. Also, your St. Helena attorney can give the person you picked the power to make decisions for you whether it is medical or financial.
Prepare for your kids’ bright future. Plan ahead of time to make sure that they are secured even if you are not around.