If you are a family with young children, then your estate plan should begin with a foundation that ensures your children would always be taken care of, no matter what happens. At Element Law Firm, one of our areas of greatest expertise in planning for and protecting your children.
What Would Happen to Your Kids if the Unthinkable Happened to You?
Did you know that 69% of parents have not yet named guardians for their kids? Your children could be placed into Child Protective Services (CPS) even if you have a will in place and even if you have a living trust while your legal documents are located or your family is identified. Worse, your kids could be left in the care of someone that would not be your choice. More facts:
- A Judge who doesn’t know you or your family could decide who will raise your kids, even if it’s someone you did not intend to raise them.
- Approximately 5% of the total value of your assets could be lost due to probate, a court process that can tie up your assets for months or years and deprive your kids of the resources they need to live comfortably.
- When your kids turn 18, they get a check for whatever assets are left – outright and with no protection.
- There are unscrupulous people who make it their business to review public records to find out what 18-year-olds are coming into money putting your children at risk.
- Many estate planning attorneys simply do not address these issues and do not plan from a parent’s perspective.
We have dedicated our life’s work to make sure these things don’t happen to your children. That’s why we offer a Kids Protection Plan® with every estate plan we prepare for families with young children.