Estate planning 101 for single parents

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Estate planning 101 for single parents
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If you should become incapacitated or pass away, who will become the guardian of your minor children?

If the child’s other parent is surviving and has not lost parental rights, they will have custody of the children as a matter of law — it’s not guardianship; they are the legal parent.

First, name your choices for guardian in your will. It’s a good idea to name several people in order of your preference. For example, “My mother, Jane Smith, and if she cannot serve, then my brother John Smith, and then next, my friend Carol Baker.” There is no guarantee this is who the court will appoint, but weight is given to the parents’ preferences.

If you have minor children, a “Nomination of Heath Care Agent” should also be in place. This is a document in which you authorize another party to make healthcare decisions for your children if you cannot. This is necessary when, for example, you and your children are in a car accident, and you cannot respond to authorize health care, hospitalization, or other treatment for your children.If you have minor children, you have every reason to get a will and trust in place.

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