Nothing ever happens to us when we are young…….. right?
But what if it does?
It is very important to discuss what will happen to your minor children (especially in single parent households) if you were to pass away or become incapacitated.
It is critical not to have what is known as a “sweet-heart will” which basically says; “If I die, everything goes to my spouse, if my spouse dies, everything comes to me…….. and if we both die, everything goes to Johnny ” (who by the way is 8).
In this scenario, the court would most likely get involved, lock up the funds, appoint a guardian and then in one lump sum, release all the assets to Johnny when he is 18. I’m sure you will agree, that does not sound like a good plan!
We would be happy to start this planning conversation today. Our desire is that a very bad situation doesn’t become worse by not planning for the physical and financial care of your children.
If you have questions or concerns about your current plan, please contact us today:
Local Raleigh / Durham / Chapel Hill / Triangle NC Elder Law and Estate Planning Attorney offers professional counsel with last will and testament, revocable or irrevocable trust, power of attorney, advanced directive, Medicaid Planning, Veterans Aid and Assistance, asset protection, probate and estate administration, and other important legal matters.