Minor Child Protection Plan
If you are a family with young children, then your estate plan should begin with a foundation that ensures your children would always be taken care of, no matter what happens. At Pennington Law, PLC, one of our areas of greatest strengths is protecting minor children.
What Would Happen to Your Children if the Unthinkable Happened to You?
Did you know that 69% of parents have not yet named guardians for their kids?
Of those who have, most have made one of 6 common mistakes most parents (and their lawyers!) make when naming guardians.
Don’t let this happen to your family!
Get the inside scoop on child protection planning Here
Without proper planning, if the unthinkable happens to you, here’s what could happen:
- Your children could be placed into Child Protective Services (CPS) even if you have a will in place; even if you have a living trust.
- A Judge who doesn’t know you, or your family, will decide who will raise your kids, even if it’s the last person you would ever want;
- Approximately 5% of the total value of your assets could be lost due to probate, a court process that can tie up your assets for months or years and deprive your kids of the resources they need to live comfortably;
- Your kids may be limited to using only $3,000.00 annually of the assets you leave to them;
- When your kids turn 18, they get a check for whatever assets are left;
- There are unscrupulous people who make it their business to review public records to find out what 18 year olds are coming into money;
- The vast majority of estate planning attorneys do not address these issues, and do not plan from a parents perspective.
We have dedicated our life’s work to make sure these things don’t happen! That’s why we offer a Minor Child Protection Plan with every estate plan we do for families with young children.