It’s not a fun topic. However, it is important to consider how you plan to protect your kids if you cannot be there. If the unthinkable happens, who will care for them and provide for them? As a parent of minor children who count on you, thinking and planning ahead are imperative.
Risks of Not Planning Now
Without proper planning, it’s difficult to contemplate what could happen to your minor children in the event of your death or incapacitation.
Some of the risks include:
- Temporary living placement with strangers
- Custody with a family member who you would never choose to be granted custody
- Ugly and stressful custody battles between family members
- 5% of your asset value could go toward court costs and fees instead of to your children who need the financial support
It’s unsettling to consider these outcomes but taking a realistic approach to what could happen helps many parents understand the importance of planning ahead.
How to Protect Your Kids through Planning
Many estate planning attorneys do not address issues that pertain to minor children or consider the situation from a parental perspective. So, to begin the process, seek the estate planning services of a firm that understands and specializes in estate planning. And, the firm should also offer other services to protect your children no matter what the future brings.
It’s essential to understand that having a will or even naming godparents for your minor children is not enough. In some cases, the court system may still have to make decisions regarding your child’s care. Therefore, legally naming your children’s guardians is a crucial first step to protect your children and prevent family conflict.
Once you’ve completed that step, you can take advantage of the Kids Protection Plan to reinforce the guardianship and care of your children in the case of your absence.
How Does the Kids Protection Plan Work?
The Kids Protection Plan includes detailed instructions, legal documents, and an emergency card to keep in a parent’s wallet. The purpose of the plan is to help parents ensure their minor children will have the care and protection they need if the worst happens. Most importantly, the plan accomplishes this goal by:
- Keeping children out of protective custody or the custody of strangers or anyone you do not want
- Ensuring children are raised and cared for by people you choose
- Allowing you to modify your legal guardian choices
- Having access to a download of your legal document that includes the care and guardianship instructions for your children
- Giving you everything you need, including a wallet card, with a quick 10-minute process
Let Arch Legacy Guide You through the Process to Protect Your Children
Arch Legacy Firm exists to meet the needs of young families and professionals as well as families who have differently-abled loved ones. Our team has developed unique systems and programs to offer guidance. We want to ensure that you build and maintain a life of prosperity and wealth, while having peace of mind knowing you have a plan in place to care for your children and family.
Learn more about the Kids Protection Plan, estate planning, and other services available through Arch Legacy. Connect with our team or schedule a Family Wealth Planning Session today.
