At the end of the day, creating an estate plan is about making future arrangements designed to protect your beneficiaries. Few beneficiaries need more protection than minor children. The process of estate planning for families with young children in San Antonio has some unique considerations that do not apply in all cases.
The good news is that you have the chance to face this process with the support of a compassionate estate planning lawyer. Attorney Sasha Begum has extensive experience drafting estate plans for families with small children, and she looks forward to helping with your needs as well.
The death of a young child’s parents can be a traumatic event across multiple generations. Not only is this a life-altering event for the children, but other family members like aunts, uncles, and grandparents are also affected. Unfortunately, this tumultuous situation can lead to disputes and infighting over how to raise the kids.
Having a proper will in place is a valuable part of the estate planning process for San Antonio families with young children. These documents can spell out your wishes and provide clarity on how your family members should respond in the future.
When young parents pass away without an estate plan in place, it is up to the probate court to determine what happens with their assets and property. This might not square with what you had in mind, making it important to let the courts know what your preferences are. A combination of wills and trusts can not only provide for your children but also ensure they avoid unnecessary tax obligations in the future.
While no parent wants to think about being unable to take care of their children while they are still young, the unfortunate reality is that injuries or illnesses can render them incapacitated. This can happen without notice, whether it is the sudden onset of a disease or an injury from an accident.
Making arrangements for young children is an important part of family estate planning in San Antonio. When kids are not old enough to make decisions on their own, you will need to select someone to act on their behalf. This can be done by appointing a guardian.
The guardianship process allows an adult to petition the court for power to act on a child’s behalf. Part of the estate planning process is to select someone to act in this role in the future as needed. If you do not designate someone as part of your estate plan, the probate court will ultimately make that decision. You also have the power to name someone as contingent guardian in case the first choice cannot serve in the role.
It is never easy to think about a time when you are no longer physically present for your young children. That said, the most important thing you can do on their behalf is ensure that they are safe and supported now and in the future.
You have options when it comes to planning for the future. Reach out to the attorneys of Begum Peláez-Prada, PLLC, as soon as possible to discuss estate planning for families with young children in San Antonio.
