Estate Planning for Parents of Minor Children
Parents often think naming a guardian in a will is enough. A complete plan should address what happens both immediately and long term if the parents cannot care for their children.
A Kids Protection Plan® Can Address
- Long-term guardians
- Short-term or emergency caregivers
- Backup guardian choices
- People you do not want appointed
- Emergency contact information for caregivers
- Medical information and authority when appropriate
- How money should be managed for children
- When and how children should receive an inheritance
- Instructions and information important to the people caring for your children
Protecting the Money as Well as the Children
Choosing who raises your children and choosing who manages money for them are separate decisions. Your estate plan can place assets in trust and give a responsible trustee authority to use those funds for education, health, support, and other needs rather than giving a young beneficiary unrestricted control at age 18.
A trust can also protect far beyond age 18. Instead of eventually requiring the entire inheritance to be distributed outright, the trust can continue for the child into adulthood. Properly designed continuing trusts can provide valuable protection if an adult child later divorces, is sued, faces creditor claims, or files bankruptcy, while still allowing the assets to be used for the child’s benefit.
Our Process for Parents
We walk parents through the decisions in a structured planning session, explain the practical consequences of each choice, and build the Kids Protection Plan® into the broader estate plan. The goal is to leave clear instructions and a trusted legal relationship your family can rely on if you are not there.
Frequently Asked Questions
Can one person raise my children and another manage the money?
Yes. Those roles can be separated so the best caregiver does not necessarily have to be the person responsible for managing inherited assets.
Should my child receive everything at age 18?
Not necessarily. A trust can keep assets managed and protected beyond age 18 and can provide standards for how money should be used and when the child should receive control.
