Do you know what “estate planning” is, exactly? Basically, it is your plan for what will happen if you die or become seriously disabled, and it should answer the following questions:
Who Will Administer Your Estate If You Die?
In other words, what person do you trust to carry out your wishes, make sure things are wrapped up properly, and that your heirs are properly taken care of?
Who Will Care For Your Minor Children And Any Adult Disabled Children?
You should name the person or people you want to raise your children and provide for their care if you and their other parent both die. If you are the guardian of yoru adult disabled child, you can also name the person you think should take over that role if you die.
Who Should Get Your Money and Things?
You should have a basic distribution plan for the things you leave behind, including money, retirement plans, your personal property, famly heirlooms . . . and only with a will can you be sure that things will go to the people you want to have them.
Who Should Manage the Money You Leave to Your Children?
You may not want the same person who is the guardian of your children to also manage their money. You can name trustees to manage anything you leave for your minor or disabled children.
Estate Planning should also include naming people to help take care of your own affairs if you become disabled.
Once all of these questions have been answered, the proper legal documents will be created so that you can be sure that your wishes are carried out.
Check out our Fearless Family Legal Documents package, designed for families that have children with disabilities.