Child Protection Plans

Without proper estate planning, if the unthinkable happens to you, here is what could happen:

No one wants to think about what life would be like for a child without a proper child protection plan, however, it is a very important question. Below are a few of the unfortunate circumstances some children find themselves in after a sudden family tragedy:

• Some children are placed into custody of the government through Child Protective Services (CPS), even though a last will and testament or living trust is in place.
• A judge, who doesn’t know you or your family, could be required to determine your child’s guardianship, and may name the last person you would want to raise your child in your absence. 
• Approximately 3% of the total value of your assets could be lost in the cost of probate, a court process that can tie up your assets for months or years and deprive your child of needed resources. 
• When your child turns 18, they receive a check for the value of the remaining assets whether or not they are mature enough to manage these assets. There are individuals who review public records to discover when these kids will receive the funds from trusts or estates. These individuals attempt to use this information to take advantage of these young beneficiaries with little life experience in handling these situations.

At Voyant Legal, we create child protection plans as a part of your overall estate planning process to see your children through to adulthood. There is no way to put a price tag on the peace of mind that comes from knowing there are no loose ends when it comes to your child’s guardianship.