What Does Guardianship Have to Do with My Estate Plan?
When someone passes away with minor children, a plan for the care of those children may be crucial to helping them through a difficult time. When a child loses their only parent or both parents, guardianship helps to ensure a smoother transition.
Thinking about guardianship is essential if you’re planning to start a family or already have children. Assigning guardianship can be accomplished through the estate planning process and helps give you confidence that a loved one will be able to step in immediately to care for children in the event of a major tragedy.
A recent caring.com study found that one in five adults were prompted to create a will or a trust after having a child, indicating this major life milestone and how it may shift your mindset about planning for the future. Furthermore, it is also important for millennials to think about guardianship because they may be simultaneously caring for aging parents as well as their own children.
Even if you’re not concerned about guardianship now, you may want to protect your wishes via a medical directive. A growing number of millennials in various research studies prioritize quality of care for themselves, which makes it extremely important to work with an estate planning lawyer in your area to put medical directives in place.
You may also extend your thinking on guardianship to the concept of pets. A total of almost 80% of millennials in a recent study have already appointed a guardian for their pets if something were to happen to them. Documenting your wishes in your estate plan gives you peace of mind and helps ensure that your wishes are followed. Contact an attorney in Virginia Beach today to start this process.