4 Documents Every Parent With Minor Children Should Have
Welcome to the last installment of my five-part series, The Basics of Estate Planning. In part I, we defined estate planning and provided examples of what could happen to you if die without an estate plan. In part II, we discussed Wills, the advantages and disadvantages of having a Will as part of your estate plan, and we also discussed what you should consider before making a Will. In part III, we discussed Trusts and the advantages and disadvantages of having a Trust as part of your estate plan. We also discussed how to determine if a Will or a Trust is right for you. In part IV, we discussed the different types of power of attorney. Review parts I-IV on my blog. This last installment will focus on guardianship planning for minor children.
If you have minor children, then you need a comprehensive guardianship plan to ensure your children will always be taken care of if something happens to you and your spouse, if you are married.