Estate Planning for Parents

Yes, it’s Back to School Time –

And for many, you have some Estate Planning homework to do.

Back to school and time to make an Estate plan

"if you're the parent of minor children, a Will is a must"

First, let’s clear something up. Estate Plans are not just for the rich and wealthy. At a minimum, everyone needs a Will, even if you think you have no assets (what if you are to die in an accident and your Estate receives a large settlement?).

A Will is the document that directs to whom your assets are to go. However, if you are the parent of minor children, a Will is a must. A Will indicates who is to become guardian if anything is to happen to you. And as a parent, your most critical—and often overlooked—task is to legally document guardians for your minor children. That is, who will ensure that your children will always be taken care of by the people you want, in the way you want.

What if something should happen?

At 20WestLegal, we specialize in planning for the true loves of your lives. We know that without a plan in place for the comfort and care of your children, should something happen to you, the following consequences could occur:

Your children could be placed into the care of a state-run child care program and/or facility.

Someone you would never want to raise your kids could gain custody of your children.

A judge who doesn’t know you, or your family, could decide who will raise your kids, even if it’s the last person you would ever want.

Your family could get into a long, drawn out custody fight over the care of your kids.

A significant portion of your assets could be spent on court costs and attorney fees which could have totally be avoided with a little planning.

As a mom of young children, founder of 20WestLegal Erica Endyke, knows the importance of a proper plan which will protect your children from these repercussions. So in between preparing the monthly activity calendar, making lunches and shopping for cleats, schedule your free consultation with Erica to discuss your plan. It may be the most important homework you ever do.

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