ESTATE PLANNING FOR PEOPLE WITH MINOR CHILDREN
There are individuals who view estate planning as something that is only applicable to elder Americans. After all they reason, dying is for old people. They think they will have plenty of time to worry about things such as this when their hair turns gray and they are swaying in rocking chairs on the front porch.
This is one way to go about things, but if you look at the statistics you know that people of all ages pass away each and every day. And contrary to the point of view of some individuals, it could be argued that estate planning is more important for younger adults than it is for elders.
Once you reach your 60s and 70s your children are (in the vast majority of cases) going to be independent, self-supporting adults. Whatever you may be able to do for them is great but it is probably not absolutely necessary for their survival.
On the other hand, younger adults are often times going to have minor children who are dependent on their parents. If you make no provisions for the possibility of passing away before your time, where will that leave your children and your spouse?
Who would care for your children if both parents were to pass away at the same time in an accident of some sort? If you are a single parent, the matter is even more pressing.
Clearly, estate planning for people with minor children is extremely important. If you are presently unprepared, right now would be a good time to take action and arrange for a consultation with a licensed and experienced Riverside CA estate planning lawyer.