Estate Planning for New Mexico Children
Getting your will done is not usually at the top of anyone’s to-do list. Even so, an estate plan is essential for parents with young children. An estate plan is one of the best things you can do for your family. It will provide you with peace of mind. An estate plan will ensure the future security of your loved ones.
If you have children under the age of 18, an estate plan is essential. Underage children cannot own property. Children under the age of 18 cannot be named beneficiary. Your will becomes more complex when there are children. If you die without a will, your state will decide how to divide your assets. The state will also choose a guardian for your children. The legal system will take longer to make decisions if there is no will. Probate is time-consuming and more expensive. And the decisions made by the state may not be what you want.
Planning For Your Children
Having a Will Alone Simply Does Not Ensure the Care of Your Kids If the Unthinkable Happens to You!
An estate plan is especially important if you have minor or special needs children. A basic will may not be enough. An estate plan becomes more complex when there are children. You need a well-drafted estate plan that will ensure the care of your children by the people you want. I have the experience and knowledge to help you draft the best plan for your situation.
If you die or incapacitated without a plan the scenarios below could happen.
- Your children can end up in Child Protective Services.
- Your children can end up in the guardianship of someone you do not want.
- A judge who does not know you or your family will decide who will raise your kids.
- Your family could get into a long-drawn-out custody fight.
- When your kids turn 18, they get a check for what assets you leave.
- Unscrupulous people check public records to find out when minors receive an inheritance.
A good estate plan can help you avoid the pitfalls listed above. Your family is unique. Your family requires a unique plan. I work with you to draft a plan that fits your family situation and will protect and secure your children’s future.