As a parent, you know your responsibilities to your child never end. Setting up a will with guardianship provisions ensures that someone you choose will take on that responsibility, securing your child’s future in case of your death or incapacity. If you do not select someone, the courts may make that choice for you. This guide can help you navigate the process and make informed decisions.

Gather Essential Information

To start, collect vital information about your children, including their full names, birthdates, and any medical details. Additionally, list all your assets, such as bank accounts, real estate, investments, and personal belongings. Be sure to note any debts or financial obligations and outline your desired arrangements for your funeral or memorial service.

Choose a Guardian and Backup

You should consider people who share your values, parenting philosophy, and lifestyle as potential guardians. When selecting a guardian, factor practicalities like age, health, financial stability, and proximity to your child’s existing support network into your decision. The person you select as a guardian should have a strong bond with your child, understand their needs, and be capable of providing a stable, loving home. It’s equally important to name a backup guardian, ensuring your child’s care is covered if the primary choice becomes unable to fulfill the role.

Consult an Attorney

DIY options for creating a will exist, but consulting an estate planning attorney is highly recommended to ensure your plans are legally sound and customized to meet your family’s unique needs. An attorney can help navigate the legal requirements, ensuring your will and guardianship documents comply with state laws. They can also customize the documents based on your family’s unique needs, reducing the likelihood of disputes or legal challenges in the future.

Draft and Finalize Your Will

When drafting your will, be clear about your chosen guardian(s) for your minor child. Detail how your assets should be allocated to support your child’s education, well-being, and future needs. You’ll also need to appoint an executor – a person or institution you trust to manage your estate, pay debts, and distribute assets according to your wishes. If your child has special needs, include provisions for their care, such as setting up a special needs trust to protect their eligibility for government benefits while providing additional financial support.

Communicate Your Wishes

Have a discussion with your chosen guardian(s) about your parenting philosophy, your child’s routines, and any specific requests you have. Inform close family members and friends about your decisions to prevent misunderstandings down the road. Provide your executor with a complete overview of your will, assets, and related legal documents.

Store Your Documents Securely

Your original will and guardianship documents should be kept in a secure location, such as a fireproof safe or a bank’s safe deposit box. Make sure your executor and guardians know where to find these documents when needed. Consider creating digital copies and storing them securely using encrypted cloud storage for easier access if needed. If your attorney keeps copies of your documents, confirm this arrangement to ensure an additional layer of security.

Review and Update Regularly

Life changes quickly, and your estate planning documents should reflect those changes. Review your will regularly and update it as needed – after major life events like marriage, divorce, birth, or the death of a beneficiary or guardian. Changes in state laws could also affect your documents, so keep informed of relevant legal updates.

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