Taking Care of Minor Children Upon Your Death
It is a possibility that most clients do not want to think about - who would you want to take care of your children should you pass away? There are also two ways to take care of your children, emotionally and financially. Decisions decisions.
The person you choose to take care of your children emotionally should be someone who you trust to raise your children in a nurturing manner. This person does not have to be good with money at all but should be good with your children from an emotional standpoint. A lot of clients automatically want to choose their parents for this role. However, will your parents be able to raise your children? How old are they? Do they live in the same community? Just a few things to think about.
The person you choose to take care of your children financially needs to be a person who you can trust to pay all the bills in a responsible manner for your children. This person should not be a "yes" man necessarily. You want them to say yes to a good education not to a Porsche for a first car. This person can be the same person who will take care of the children emotionally but does not have to be.
To learn more about who to choose to take care of your children, please contact our estate planning attorney at Wood, Atter & Wolf, P.A. in Jacksonville and Ponte Vedra Beach, Florida.
