Protecting Your Minor Child When You Make Plans for Your Estate

cFrom the time you know you are pregnant, you immediately want to do everything to protect this child of yours. As a parent, you are willing to sacrifice your own happiness and health for your minor child. But one of the best things you can do for them is to plan your estate. To make this process right and ensure your wishes are carried out, you must work with an experienced estate planning attorney. You can find the best lawyer to work with when you click here now.

Protecting Your Minor Child in Your Estate Plan

To protect your minor child when you plan your estate, make sure your will names a guardian. The guardian would take care of your little one when you die. This is an important decision to make, so you should think about your options carefully. Consider speaking with the people you want to name as guardians to make sure they are willing to assume this role when you pass away. Also, it’s important to name an alternative who will take on the role when the first person named cannot fulfill the responsibility. 

In addition, you must carefully plan how your assets will be passed down to your child. A lot of people assume that naming a minor child as a beneficiary in their will is the right option. But keep in mind that the court can appoint a guardian to manage a child’s inheritance until they are of legal age. Likewise, you may not want to leave a substantial amount of wealth to an 18-year-old child since they may not be responsible enough to manage the funds. 

Rather, you can create a trust fund to hold assets you want to pass down to your child until they are divided based on your decided terms. A trustee will be assigned to handle your fund and distribute the trust assets for you. You can choose the trustee yourself. 

How an Estate Planning Lawyer Can Help You

Estate planning is important, particularly if you have minor children. You want to make sure your plan is legally binding and valid. This is where you need the expertise of an estate planning lawyer. Your attorney will make sure the terms you wish to include in your estate plan adhere to state law. They know how complex estate planning is, so they want to help you achieve all your estate goals and have peace of mind.