Underage kids that is, are probably the most overlooked aspect of an estate plan. Younger couples rarely have the time, money, or even desire to spell out exactly what happens to their minor children in the event of their death. They assume their partner will take control, or that the state will nominate a guardian of their children. Unfortunately, this can be extremely disadvantageous. Think about your relatives for a moment. First, think of your relatives, and then consider how they get along with your in laws. Should something unfortunate happen to each of the biological parents, what would each side provide for the children? Would they agree on who should watch the children? Would they consider each other unfit? Would they want the children split up? Would they want the children to go to the wife’s parents? Would they want your children to live with the husband’s parents, who live out of state? How about a woman who has a biological child and now has a same sex partner. If something happened to the biological parent, would the families just allow the child to be raised by the same sex partner? Would they have a problem with that?
Maybe you know your family situation, but there is no way to tell what will happen to your children after your death should you not provide for them properly. It is very important to make the appropriate arrangements before this time comes, in order to avoid unwanted outcomes. When someone doesn’t vote in an election, do they then have the right to complain about the new political leaders and their decisions? Not really. I believe the same applies to someone who doesn’t make the appropriate arrangements with thier children before they die. They should have no right to complain.
Unfortunatly, it would be the children who end up being hurt. What can you do to protect yourself and your family? At the very least, set up a simple will that will spell out exactly what you want to happen to your children when you die. There are programs you can buy at Staples and Best Buy that can help you create these documents yourself, if you are looking to save some money. Although they are better then nothing, I usually don’t recommend these. It would be best to see a qualified attorney. My rates are very reasonable for a young family, I would probably charge between $400-$600 for a plan that would protect a young family for any reasonable contingency. Give me a call or email, I would be happy to help.
Brian W. Valanzola
440 Plain Street, Suite 7
Marshfield, MA 02050
781-834-8082
781-846-0576
