Estate Planning for the Single Parent
As a single parent you have more than your share of responsibilities and burdens. You are responsible not only for your life and all its decisions, but for the lives of your children.
What should you do about Estate Planning?
The first major concern is what will happen to your children if something happens to you. If you have minor children, you definitely need, at a minimum, a Will which will appoint the guardian for your children when something happens to you. If you have any special needs children, who is going to take care of them and how will they be taken care of?
You also need to plan for the financial needs of your children in the event something happens to you. Who is going to take care of their assets and be sure they are not foolishly spent? If you should remarry, how are the children going to be taken care of?
Take care of yourself
You need to consider your own well-being, not only now but for the future. Adequate retirement plans must be made, provisions for going to a nursing home should be considered, and other personal matters must be addressed.
At Cutchin Law Firm, we are particularly sensitive to the needs and demands of the single parent.