As parents, you think of all those milestones that you will witness as your children grow up. You make plans for their future, and do everything you can to look out for them and protect them. The last thing you want to think about is what would happen to them if you were to pass. But as much as you love them, you wouldn’t want anyone else to make that decision for you if you were to die unexpectedly.
As estate planning attorneys at the Lake of the Ozarks, we know it is a difficult subject. But at Gibbons Law Firm, we help parents get through the tough questions and legally outline their decisions to ensure the wishes they have for their children will be upheld. If you do not have a recently updated will, and you have children, keep reading this blog for ideas on 3 things to consider when planning your will. We are happy to answer any questions you may have about planning a will in Missouri and help you through the process. Your initial consultation is free.
1) Who Will Raise Your Children?
One of the first things you want to think about is who you want to be responsible for your children. If you have a relative or close friend that you want to raise your children, that should be legally documented. Otherwise, a court will make that important decision for you. You know better than the court who would raise your children with the same values and the closest to the way you would. Let your voice be heard with a legally binding will.
2) Where Will Your Child Live?
Another question, related to the first, is where do you want your children to live? Will you want the guardian of your children to move into your home? Or would you expect your children to move out of their home and possibly into a new city? If it’s important to you that they keep up with their normal routine or have regular access to the friends and family they have been raised with, that should be indicated in your will.
3) What About Your Assets?
The third question is about your assets. What part of your assets do you want to go to help with the expenses of raising your children? Do you want to stipulate that the money is only to be used to pay for expenses directly related to raising your children? What portion of your assets do you want to go to your children? What age do you want your children to be when they receive access to those assets? Sometimes parents want their kids to be of legal age or older before they have access to large amounts of money or other assets. Those are all things that you are able to decide and document in your estate plan.
LET GIBBONS LAW FIRM HELP YOU GET THIS DONE!
Don’t worry, you don’t have to do this by yourself. At Gibbons Law Firm, we are very familiar with the estate planning process in Missouri and know how to make it as pleasant as possible for an understandably awkward conversation. In the end, you get the peace of mind of knowing that you didn’t leave these important decisions up to someone else. So, give us a call today at 573-348-2211 to schedule your free initial consultation! We also encourage you to follow us on our social media channels below to stay up-to-date with our latest announcements.
Remember, your initial consultation with Gibbons Law Firm is always free.