estate planning attorney

Estate Planning Attorney: Without a Will, Who Will Raise My Children?

In Blog, Estate Planning, Guardianships, Probate, Wills by casalmorenoblog

When you have children, nothing is more important than their well-being. In fact, for parents, creating a future that is secure and full of possibility for your children is practically your sole purpose. So how do you ensure that their future remains stable if you and your spouse die? Hiring an estate planning attorney will help. After all, estate planning isn’t just about deciding who gets the family home when you and your spouse die.

When you have young children, drafting a will also determines who raises them after you’re gone.

It’s not something that people like to think about: an estate planning attorney in the event something happens to you. But knowing that your children will be safe is worth the discomfort. If you’re a parent, you should know what can happen to your money and your children if you don’t have a will.

What Can Happen without a Will

If you and your spouse die before your children reach majority age, a few things will happen without a will. First, the court will appoint someone to be your children’s legal guardian. This person is usually a family member, though, in the absence of family, the children could end up in the care of the state. But even a family member’s idea of good parenting can be vastly different from yours. Without a will, your children could end up living lives you didn’t intend for them.

The second thing the court determines is how your money and assets will be distributed. A legal will ensures that your money goes where you want it to go. For instance, a will can specify a person you trust to manage your money until your kids come of age. Because it’s rare that people still in their teens are mature enough to manage large sums of money, you can also stipulate that your kids only gain access to a portion of the estate at age 18. They’ll have enough to support themselves but won’t be able to spend everything all at once.

Even when only one parent passes away, only a third of the estate will go to the surviving spouse. The rest goes to the children. However, the parent of those children can’t access that money to help pay for things without going through a long, arbitrary process. Leaving behind a will helps make sure this doesn’t happen.

Do I Need an Estate Planning Attorney to Create a Will?

While the law does not require you to hire an attorney, creating a will can be a complicated process. Without a legal background to guide you, you could find yourself making a mistake that your family pays for in the future. An estate planning attorney has the knowledge and experience that you need to craft an air-tight document. Isn’t providing your children with a secure future worth it?

Are you a parent? Protect your family by calling Casal & Moreno today.