There are two important estate planning pieces to have in order to protect your child/children in the event something happens to you.
1. Guardianship Provision in Your Will
If you have a minor child or children under the age of 18 it is very important that you have a guardianship provision included in your Last Will and Testament. This provision lets you name who you want as your child's/children's guardian. This particular provision is important because if you didn’t have it included in your Will, upon your death, the Court would decide who takes care of your child/children and their finances.
2. Declaration of Guardian
The second important document to have to protect your child/children is called a Declaration of Guardian. This document allows you to name the individuals who will be the guardian of your child/children in the event of your incapacity or disability. Like a guardianship provision, not having this document will result in the Court deciding who would take care of your child/children and their finances.
Protect your child/children by having these imperative estate planning documents in place!
Do You Need The Guidance Of An Experienced Estate Planning Attorney?
If you find yourself thinking more and more about how to preserve your assets for your family you should speak with an experienced estate planning attorney as soon as possible. Contact us online or call our Dallas office directly at 214.559.7202.