Caring For Your Children With Insightful California Estate Planning For The Next Generation

Your estate is only one small part of the legacy you leave behind you when you die. Far more significant are your children, who, if they are still minors when you pass away, will need all the help you can give them. This article explains:

• Why you should always have an estate plan if you have minor children.
• Several straightforward estate planning tools to take care of minor children after you die.
• The specific documents you will need to include in your estate plan to do so.

What Will Happen To My Minor Children When I Die?

If a tragic situation occurs where both parents or guardians of a minor child pass away, all too often, the families will end up fighting in court over who will take care of the child. Sometimes more than one party will want their care; other times, no one will.

Either way, it only adds to the tragedy of the situation, especially if you would never have picked whomever the courts end up choosing. Often, the court will prioritize your siblings or parents, even when you might prefer a trusted friend.

In the worst-case scenario, without any relatives able to take them and no nomination from you, the child may very well end up in the foster care system.

What Estate Planning Documents Do Parents Need To Protect And Provide For Minor Children?

If you have minor children, it is imperative that you have at least a guardian nomination and possibly also a minor’s power of attorney and a minor’s healthcare directive in place.

If you have at least appointed someone as a preferred guardian, that individual is going to have first priority when petitioning to get guardianship over the child.

Having the minor healthcare directive and minor power of attorney is going to bridge any gap in time between your death and the court’s decision. They will give that individual power to make decisions for your children until they are officially appointed by the court. In that way, there will at least always be someone with the power to take care of your kids.

Having a trust and or a will in place is also important to protect your children financially. These will ensure that they are going to receive your assets and wealth. This is vital because that money is how your children are going to be taken care of financially.

How Can Establishing Guardianship During Estate Planning Protect My Minor Children?

It is important to understand that in California, you do not have direct control over who will be the guardians of your children after your death. This is left up to the court system to decide, ultimately, based on what is in the best interest of your children.

However, the court will put a lot of weight on your guardianship nomination, so including one in your will is the best way to influence that decision. This is especially true if that person or persons are not direct family members but rather trusted friends.

Finally, the nomination also serves as a clear choice to bridge the gap during the otherwise very difficult situation before another loved one or trusted individual can formally get appointed through the courts to be their guardian. It can also come into play if you are incapacitated for an extended period of time.

Will Guardianship Help My Minor Children If I Become Incapacitated?

Estate planning is not just about planning for your death but also any eventual incapacitation that could leave more than just your financial affairs in limbo.

If you are incapacitated to the point where you can no longer care for your children, for example, in a coma or vegetative state, you will want someone to care for your children. A guardianship should be initiated at that point, so having your preference for your children’s care clearly drafted into your estate plan is vital.

If you do not yet have any documents or provisions in your estate plan for your minor children, or if you have neglected estate planning entirely because you are still young, you should contact an estate planning attorney today. Your children deserve to be cared for even if you are taken away from them.

For more information on Estate Planning In The State Of California, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (951) 262-8811 today.