WHO WILL TAKE CARE OF MY CHILDREN AFTER I DIE?

If you have any children under age 18, a big part of your estate plan will focus upon taking care of your children and their needs if you pass away. Someone will need to provide for their immediate day-to-day care. You also have to address more general concerns regarding guiding and managing their inheritance during the difficult period between the time they turn 18 and the point where they have the kind of experience and knowledge necessary to handle a large sum of money.

Guardian. This is the person who will have your children in their home and provide for day-to-day needs. The guardian will be responsible for making sure that the children are clothed, fed, do their homework and make it to soccer practice on time. This job continues until the youngest child reaches age 18.

The guardian will receive any Social Security payments that the children are entitled to after your death. They will use the monthly income to pay any expenses related to the children and their care. This money is often enough to cover the ordinary and usual costs related to raising the children.

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