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Making interim plans for minor children in an estate plan

| Aug 21, 2018 | Estate Planning

Minnesota parents may want to consider expanding their estate planning instructions if their children are minors. Wills offer parents the opportunity to appoint guardians for their kids. However, this still leaves a gap between what happens after the parents’ deaths and when the legal guardian takes over.

As part of this planning, parents may want to consider who a babysitter should contact if they do not come home from a night out or who should be called if the police come with bad news about the parents. Another consideration is where the child will go until the legal guardianship is in place. If it is not immediately clear who the child should go with or that person is not available right away, family services will most likely be called and the child will be placed with a foster family. Parents may prefer that the child stay with a neighbor or another family friend until the legal guardian can take over, and this can be addressed in the document.

While such a document can be included with estate planning documents, a copy could also be kept in a more accessible area. This type of document can be created with the assistance of an attorney.

While there are certain standard documents that all estate plans need, such as a will and powers of attorney for finances and medical care, people may also want to create specialized documents. For example, an estate owner might have digital assets, such as cryptocurrency, that they want to pass down to a loved one. They may also want to include instructions in the will for passing on sentimental items.

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