Creating an estate plan is a excellent way to ensure that you have safeguarded your children’s futures. In addition to establishing a will, the additional provisions listed below deserve consideration.
guardianships
Designating a specific individual to take care of your children in the event of your death is probably the most important part of your estate planning. Many parents struggle with how to decide on the best prospective guardian. Red Oak Law can provide you with guidance as to your choices. For our free guide to selecting a guardian, click on the link below.
trusts
Many parents consider creating a trust to provide financially for their children in the event of their demise, but there is often confusion over this process. The terms used in identifying different types of trusts, such as living, revocable, irrevocable, family, etc., can be confusing. Red Oak Law can assist you in determining which trust best suits the needs of your family, and can help implement that choice.
special needs planning
Parents or caretakers of family members who have special needs often face additional challenges when it comes to designing an estate plan that properly accounts for their loved ones. Red Oak Law can provide a helping hand by tailoring a plan that provides for resource management while preserving eligibility for additional resources.