One solution is to create a trust for the children when they are minors so something is in place for their financial support in the event you pass away. You would need to designate a person or persons in the will to serve as trustee. However, many parents delay this because they can’t figure out who to designate as guardian for their children. This decision can be complicated with blended families. So many just postpone thinking about this important decision.
The wisest selection to make is an adult sibling, cousin or a friend who lives close by. You should discuss this with family members and friends. Talk about who you would like to raise your kids.
Estate planning makes things easier for those you leave behind if something should happen to you. Visit an experienced estate planning attorney and get this done now.
