Sunday, May 5, 2013

Children and the Estate Plan

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Back again with more thoughts on Estate Planning after completing your divorce, this time, we’re thinking about your children and the idea of Guardians.

When you have children, after the divorce, you have clear picture of your time and control of the children.  Under most cases, if you or your ex were to pass, the other natural parent should step in for complete control of the children. What happens if you drop dead tomorrow?  Sorry, but this happens.  What about if your ex dies the day before you or the day after you?  Who would you want to care for your children?  How would you provide for your children?  What about if either of you have already re-married?  Your Estate Plan could express your wishes for future guardians, after you and your ex’s untimely death.  You could create a sequence of family/friend alternatives to be caregivers and that same list or a different list for who controls your money for the benefit and care of the children.  Even though it is for your children, would you really want your money to go back to your ex in order to care for your children?  Now you can plan for that.

In the days that follow, I will give you more reasons to create, review and revise your Estate Plan. However, if you are interested in learning more about an Estate Plan, Wills, Trusts, Advanced Healthcare Directives, or Divorce, Custody, Visitation, Child Support, Spousal Support, Property Division, Modifications, Remarriage, or Pre-Nuptial Agreements, and you live in Santa Clara County or thereabout, please contact me at fbegun@gmail.com, or through my other websites at www.fcbegun.com, or at www.linkedin.com for Fred Begun