Including Minor Children In Your Alaska Estate Plan

Estate planning is more complicated when you have minor children. In addition to ensuring that your assets pass on to your children and any other parties you have chosen, you have to take extra steps to account for the fact that young children cannot manage their finances on their own. It can also be stressful to think about your child growing up without you to guide them, but creating an estate plan that accounts for this possibility, however unlikely, is an act of prudence and love that can greatly benefit your children if the need ever arises.

The Law Office of Curtis W. Patteson, LLC, will help you make a thorough estate plan that takes your children into account. One big part of this process is creating a guardianship to ensure that your children would continue to have a stable home environment in the care of responsible, trusted adults. The other major component is to create a trust to contain whatever financial assets you intend to pass on to your children.

Make Your Guardianship And Trust Work Together

When making an estate plan for children, it's important to understand that a guardianship and a trust are two distinct estate planning instruments, and they can be as separate or integrated as you like. Your children's guardian could also be the trustee responsible for their finances until they come of age, but these two roles can also be filled by two separate people. If you have one trusted friend or family member who has strong parenting skills and another one who is good with managing finances, this plan might be the one for you.

I will help you draft a trust that clearly addresses all relevant issues. Some parents create trusts to pass on a sum of money to provide for basic expenses such as your children's health, education and general support. But it is also possible to tie these funds to specific conditions, such as providing funds for your son or daughter to attend a specific private school.

Please click here for my estate planning questionnaire.

Call Today To Speak With An Anchorage Estate Planning For Children Lawyer

To learn more about how an experienced Alaska attorney can help you create an estate plan that protects your children's future, call 888-785-7545 (toll free) or 907-306-9166, or contact me online.