Are you a parent of children who are minors who are counting on you? Is there anyone with special needs who depends on you? If yes, then you will want your estate plan set up to ensure that your children will always be taken care of no matter what happens.
What could happen without a Kid Protection Plan?
- Your children could be placed in Child Protective Services. Even if you have a will and living trust, your children may still be temporarily placed in the arms of strangers; something you DO NOT WANT TO HAPPEN.
- Your children could be placed in the custody and care of a family member you would never want raising them (even if they had the best of intentions.)
- A judge you or your family has never met could decide who would raise your kids.
- Your living relatives could get into a lengthy custody battle or someone could challenge the guardians you have chosen.
- Up to 5% of the value of your assets that were supposed to go to your children to make sure they lived comfortably could be lost to court costs and unnecessary fees through the probate process or be tied up for years.
- A lump sum check for whatever assets remain will transfer to your kids when they turn 18.
- Predatory people regularly look at public records to see when 18-year-old individuals receive an inheritance with the sole purpose to prey on their naivete.
- Many estate planning attorneys overlook these issues or do not plan from a parent’s perspective.
At Your Property Law Firm, we share your concern that this will happen to you as well, so in every estate plan we offer a Kids Protection Plan for families with young children.
What is a Kids Protection Plan?
Included in a Kids Protection Plan:
- A set of instructions
- Legal Documents
- An ID card for your wallet (which is necessary if you have kids who depend on you at home for their well-being and care.)
If the unthinkable happens, your Kids Protection Plan will ensure that your children never go to Child Protective Services, into the arms of strangers, anyone you do not want, or someone chosen by a Judge who does not know you because there are no clear instructions from you. Your children will be raised by the people you choose.
