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Estate Planning Considerations for Parents of Young Children

A question we’re often asked is how parents can make sure that their minor children are provided for in the event that they cannot care for them due to incapacity or death.

Our answer is that this is an incredibly important consideration and that, in addition to having their own Advance Directives and Estate Planning tools in place, such as a Durable Power of Attorney, HIPAA, Health Care Surrogate, and a Will or Trust, that they also need to have special documents in place, including Designation of a Health Care Surrogate, Guardian Declaration, and HIPAA Release that specify trusted persons to care for their minor children if needed. It is also very important to review beneficiary designations on insurance, bank accounts, and other assets.

Additionally, setting up a trust and selecting a reliable trustee can help ensure that assets are responsibly managed for the surviving children in a caring way. Parents can also detail instructions regarding their wishes for the care and upbringing of their children, including education, faith, and values they hope to instill in them.

If you need help with Estate Planning and preparing for your and your family’s future, including making plans to provide for future care of minor children and other loved ones in case of incapacity or death, please do not delay, and set an appointment with one of our knowledgeable, compassionate, and caring Elder Law Attorneys at any of our offices located in Orange Park, Jacksonville, Julington Creek, and St. Augustine.

We are your Florida First Coast Elder Law Attorneys.