3 Estate Planning Tips for New Parents
Designating a Guardian
1. Designate a guardian you can trust.
Guardian is the term used to describe the person you designate in your will to care for your minor children in the unfortunate event you pass away before they are of age. This should be someone you trust more than anyone else as they will be the provider and legal guardian for your children.
2. Keep in mind that the guardian you name will likely be responsible for your child's money.
Until your child reaches the age of 18, whoever you name as their guardian will likely be in charge of the child's financial assets.
3. Keep your child from going into the foster system.
Designating a guardian means you HAVE THE SAY in who cares for your children at a time you are not physically able to. If you haven't named a guardian for your children and you don't really have a next of kin, there's a possibility they could end up in the foster system. If you have more than one child, there likely is no guarantee they would end up in the same home. Prevent this and name a guardian in your will.
Allow The Experts To Help You With Your Estate Plan!
Gibbons Law Firm can make sure there are no unknowns with your estate planning process. Get your legal questions answered by our experienced estate planning attorneys at the Lake of the Ozarks. We offer free consultations and you should never go into this process being unsure of how something works. Gibbons Law Firm is committed to prompt communications with clients during engagements, consistently providing sound legal advice, answering questions, and guiding clients through difficult legal situations. As an experienced lawyer and litigator, Roger Gibbons’ clients benefit from legal advice that is well-balanced and based on comprehensive knowledge and understanding of the law in many areas. We invite you to contact our firm to set up an appointment to meet with us about any estate planning questions or issues that you may have. We will listen to your concerns and give you straightforward and honest advice. Call (573) 348-2211 today. You can also learn more about the legal services we provide by visiting our website at www.GibbonsLawFirm.com. Follow our social media channels listed below to stay up to date on our latest announcements.
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