A Plan for Protecting Your Most Valuable Asset: Your Children
If you have young children, chances are that your summer activities include some careful planning to keep them safe from harm. Unfortunately, even with proper precautions in place, accidents do happen and not just to children. Have you planned for what will happen to your children if you are the one involved in a tragic accident?
If you don't put the proper legal protections in place and the unthinkable happens to you, any number of things could happen to your children, and none of them are good:
Your children could be put in the care of Child Protective Services, even temporarily. You never want strangers determining your children's fate.
Your children could be put in the custody of someone you would never want to have them by a judge who does not know you or your family dynamics.
Your family could get into a fight about the custody of your children.
If you have significant assets, those could go to your children once they turn 18 in one lump sum that they will likely not be prepared to handle properly.
Since there are so many bad things that can happen to your children should something bad happen to you, you should take the time to plan and protect your most valuable assets.
To plan for the well-being of your minor children if something were to happen to you, take the time to create your Parent Will.
