Every parent prepares for their child’s entry into their lives, but they seldom prepare for the worst-case scenario. No parent wants to even consider the possibility of leaving their child all alone in this world, but they should still take legal measures in the unlikely case that it ends up happening.
You might need a probate lawyer for the following documents.
Will is a legal document that includes your final wishes, such as how you want your funeral done and property gifted among the surviving members of your family, friends, or charity. Remember, you must always make separate provisions for your child to make sure they’re financially independent, even if your spouse ends up remarrying.
The most important part of a will, however, is where you mention the individual/s who are the legal guardians of your minor dependents in case something happens to you. This is to make sure your kid doesn’t end up in foster care or under guardianship or a completely random relative.
A legal trust is many things, but it’s also something you entrust an organization or individual with to hold and manage your assets for the benefit of your children. It’s different from a case where a child has to wait until they turn 18 only to inherit a sum so large, they don’t know what to do with it.
Trusts aren’t shaped around a child’s minority. In fact, there are complex trusts that provide a more logical layout for the increments in which your property is to be distributed well after your child has reached adulthood.
3. Power of Attorney
A Power of Attorney is something you designate to a trusted ally in the unlikely scenario that you end up incapacitated or dead. It’s a document that makes sure life goes on for your family in your absence in much the same way as it did when you were there.
Moreover, the agent or attorney with the Power of Attorney must be someone you can absolutely trust to make financial, medical, and legal decisions on your behalf, take care of your bills, taxes, the kids’ tuition, collect payments, and so on.
A Probate Attorney You Can Trust in Chico, CA
Conversely, if someone has appointed you the executioner of their Will, our estate planning and probate lawyer can help streamline the process for you and the beneficiaries of that estate.
So, contact us at 530-332-8110 to speak with one of our Wills, Trusts, and Probate lawyers in Chico.