Being a single parent can come with MANY challenges. It takes a strong person to be a good single parent and we commend you if you are one. That being said, don't ever be afraid to ask for help as a single parent. There's no shame in it and there ARE resources out there for you. For example, when it comes to your estate planning, our attorneys at the Lake of the Ozarks are here for you. Schedule your free consultation today. Gibbons Law Firm can be reached at (573) 348-2211. In the meantime, keep reading this week's blog for a few estate planning tips for single parents.
Estate Planning Tips for Single Parents
Choose A Guardian You Trust For Your Children.
The guardian is someone you name to care for your minor children in the event you pass away before they are of age. Many single parents may look to a close family member to be the guardian of their children, possibly their parent or sibling. However, the person you choose the guardian to be doesn't have to be family. It could be a close friend also. Whoever you choose should be someone you trust whole-heartedly. You should also think about where this person lives. If you'd prefer that your children stay in their school district if something happens to you, choose someone local to your area.
Consider Purchasing Life Insurance.
Not only can life insurance cover your funeral expenses, but it can also greatly help your loved ones financially. If you're a single parent, your children likely depend on you to cover their financial needs. If something happens to you, a proper life insurance policy can help them be taken care of financially upon your passing.
If You Don't Already Have A Will, Get One.
Everyone should have a will, especially single parents. A will allows you to make your wishes known when you are no longer able to speak for yourself upon your passing. If you have special assets that you want to leave to your children, you would list something like that in your will.
Need Assistance With Your Estate Planning?
Gibbons Law Firm hopes you found this blog helpful when it comes to estate planning as a single parent. We understand how overwhelming life can feel sometimes for you. Estate planning is NOT something you have to do on your own. We can help. Our estate planning attorneys in Lake Ozark can answer any questions you may have. We can also create your will for you and make sure you are heading down the right path when it comes to your estate planning. We've helped many clients in the past with this very issue and we can help you too. Simply give us a call at the phone number listed below. Let's get your consultation scheduled. The first one is FREE! While you're here at the bottom of this blog, please follow us on our social media links listed below to stay up to date on what we're doing. You may even get a few more free estate planning tips from doing so.
Remember, your initial consultation with Gibbons Law Firm is always free.