I’m a “new” mother. I have a 2 ½ year old son and 8 month old twin daughters. Each and every day, I worry and plan for what seems like a million different scenarios. Did I remember to order more baby wipes? What will I prepare for my son’s lunch and back-up lunch (he’s a picky eater)? Am I forgetting an appointment for them? And the questions go on and on beginning the moment I open my eyes.
In addition to being a mom, I’m also an estate planning attorney. That profession has taught me ask myself additional questions like: Who will take care of my children if I and my husband could not? What important values would I want passed on to them? Do we have the financial resources in place to take care of our children? Answering those questions may be difficult and no parent wants to imagine a life for their children without them in it, but we owe it to our kids to plan for that possibility.
Some important documents to consider include:
- Nomination of Guardian and Temporary Guardian - In the Nomination of Guardian document, you are choosing who will become the permanent Guardian of your children in your absence. By nominating a Temporary Guardian, you are choosing who will take immediate and temporary custody of your children until such time as the Permanent Guardians can be take physical custody of your children.
- Medical Power of Attorney for Minor Children - This document allows you to name someone to act as health care representative for your minor children if you are unable to do so.
- Revocable Living Trust – This document will allow a Trustee to manage assets for your children under the terms and conditions that you set forth.
- Durable Power of Attorney – This document allows you to name individuals who can step into your shoes and make certain legal and financial decisions on your behalf. With this, if you were incapacitated, the person you named would be able to access your assets to provide for your children.
Through the years, I have seen many families in crisis because of a failure to plan. Since becoming a parent myself, I’m even more dedicated to educating families about their planning options and helping to provide peace of mind.
If you’d like to discuss your family’s concerns, goals, and planning options, please contact my office at 508-994-5200.