As a parent, it's important to make sure your children are cared for, no matter what else is going on in their lives. Though it is something we don't like to think about, making sure our children are cared for should we pass on unexpectedly is essential.
Unfortunately, estate planning in Cary NC often gets pushed to the side when lives are busy and children are young. However, minor children should be considered when it comes to their future, who might care for them when you pass and how to leave assets to them.
Throughout the course of the next few blog posts, you will find several ways to make sure your minor children are cared for completely in the event of an untimely death for both you and their other parent. This series will hopefully help you better understand estate planning in Cary NC and how you can plan your minor child's future. If you have questions, contact us.
Ways to Leave Assets to Children When Estate Planning in Cary NC
Under a Uniform Gifts to Minor Act, it's possible a custodial account could be established for minor children. This can be established to allow a custodian to help manage funds through a bank. However, if there is more than $10,000 or other type of significant amount of money, the court may have to approve it. Either way, the minor child could inherit a full lump sum when they become of legal age.
Understanding this situation can be difficult. However, with the right knowledge and help from our lawyer, you can work through this and do what's best for your minor children in the event of an untimely death. To learn more, be sure to visit back with other blogs in this series, soon.
Klish and Eldreth | Estate Planning in Cary NC
Remember, if you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate lawyer is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
As always, feel free to contact us at our office to schedule a consultation with if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and DWI issues.
To learn more, visit with other blogs in the series: