More and more people are becoming aware of the need to establish an estate plan in California and are taking steps to do so. Establishing an estate plan is very important once a family grows to include children. Having wills enables parents to ensure the continued care of their children should the parents become incapacitated or die prematurely.
While the eventualities set up will normally provide for long-term care of the children, there may be a more immediate need that perhaps should be addressed. A recent article brought up this point and called it “micro estate planning.” When parents pass, a court will look at their will and at the designated guardian instructions for the long-term care of their offspring. But what about immediate care?
This is where micro estate planning can be useful. If the designated guardians are not geographically close or immediately available, the interim care of the children may be in limbo. Designating an immediate contact can help bridge this gap. While it may not be possible to plan for every contingency, a plan such as this could ease the days immediately following a tragedy.
Planning for possible contingencies when writing wills in California may become overwhelming. A couple putting together an estate plan could benefit from seeking the advice and counsel of an experienced estate planning attorney. A knowledgeable third party can bring a less emotionally involved perspective to the process and assist his or her client in making sure that most contingencies for the immediate and long-term care of children are covered.
