Monday, August 13, 2018
Estate planning does not always have to be complex or expensive, but every person should have a "traditional" estate plan in plan. This is even more important for those with dependents and the court will have to establish guardianship according to the wishes dictated in your will. But what about the time - days or even hours - right after an accident or a death? That is where "micro estate planning" comes into play.
Before legal guardianship can be established, a separate legal document can be drafted to clarify what a babysitter should do or should call in the case of an emergency. Orange County, California estate attorney Darlynn Morgan explains, “If there is no one with clear legal authority the police must call in child protective services (CPS) and the child will go into their custody.”
If you have underage children, ask your estate attorney about adding a separate document to your plan that protects your children when they need it the most.
See Robert Palgiarini, What is Micro Estate Planning and do You Need it?, Forbes, August 8, 2018.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.