Financial and legal Issues

Legal Tips

There are some decisions that parents can make for their children according to what they believe to be in their children’s best interests. There are other decisions that must be guided by what is allowable by law. It is important to be clear about which decisions are yours to make and which will not hold up in a court of law if contested by your children’s other family members. It is best to consult a family lawyer in your state to be certain that the provisions you have made for your children in the event of your death or disability are legally sound.

• Courts will almost always assign custody to a surviving parent who wants custody of the children.
• If you have concerns about the surviving parent having custody, talk with a family lawyer.
• Whatever your current marital situation, there needs to be a custody plan addressing the event that there are no surviving parents.
• Older children should be consulted about custody considerations in which their input could alter your planning and be advised of the realities of custody law if their wishes cannot be respected.
• Make sure your health-related and estate-planning documents are complete and that more than one person besides you knows where they are kept:

— Healthcare proxy

— Living will

— Power of attorney

— Will

— Estate plan

— Cemetery plot

 

Financial and legal matters can be overwhelming. You may want to have two people help you: one to research information on financial matters and one to assist with legal issues. Then have both of these people sit with you while you talk through what decisions make the most sense for you and your family. These point people may be professionals, well-chosen family members, or good friends. Assign them the task of nagging you if need be in order to make sure that you complete what needs completion. If possible, review your final plan with a professional for peace of mind.