It might be a logical statement to say that everyone would be better off with some planning for their estate. However, today we want to focus on the reasons that families with kids need to be planning ahead.
While nobody wants to sit down and think about what happens to their kids if they suddenly, and unexpectedly, die; there are many important reasons to ensure that there is a clear plan in place.
- First of all, as a parent, we know you want what is best for your children. In your mind you probably already have ideas about whether you would want your kids to be raised by a friend, godparent, or your favorite aunt. In many cases the plan has been loosely developed and it takes little work to make it official with a legal document. Without a Will, the state has no way of knowing who you would trust to raise your kids, or how you want your children to receive your property.
- Second, nobody knows your children better than you do. While it is unlikely that the state would allow any harm to come to your children, it can’t know the particular needs that they might have. If the state might divide your property in an equitable manner, it may not account for your wish to help a child buy their first car, or assist a child with paying for college in your absence. These situations may not apply to your children equally, and only by establishing a will would you be able to ensure that these important items are taken into consideration.
- Finally, you may admire the way your aunt loves and dotes on your children, but perhaps your accountant brother would be a better person to manage the assets that your child may now inherit upon your death. A will would allow you to create some distinctions about who manages what aspects of your child’s life, until they become an adult. As with our second point, you may know the strengths of the potential guardians in a way that the probate court may not.
We understand that you want what is best for your children. With some careful planning, today, you can ensure that your plans for your family can be protected even after an untimely death. It is hard to predict all the nuances that you might want to spell out in an estate plan. That is why Dagger Law recommends that you sit down with an attorney to ensure that your wishes and intentions are clearly defined, and allowed, under the law. We are here to help you protect your assets, and your children’s future. Call today.