I was working with a very nice lady yesterday. When she came in she said her main concern was that she was divorced and she had an 8 year old child. She wanted to make sure that if something ever happened to her that her sister would have all of the parental rights to be able to raise that child. That was the most important thing to her and that was the main reason she was here. We also set up her will and she named a guardian for her minor child. She also wanted to make sure that another sibling of hers would handle the child's inheritance if mom passes away before the child is old enough to handle it for himself. So we named one sister as the guardian, and another sister as the trustee of the minor children's trust. We also did the powers of attorney for her so that if she couldn't make a financial or medical decision for her lifetime that she had a certain sibling that would be able to do that. These are typical things that we do for parents with minor children. If you have minor children its very important that you get those estate planning legal documents in place, you name those backup parents for the children, and that you make sure the children's inheritance is protected.
Have a good day.