I came across the article below and thought it was an interesting piece to share. When a parent of a minor child passes away, the child is often ok as the surviving spouse will be able to handle all affairs of the minor child. However, if a single parent passes, there is more at stake. Parents need to think deeply about the potential situation when both parents are gone.
Thinking ahead and making sure there is a secure system in place for your minor child will create peace of mind not only for you and your child, but for any individuals who will need to step in at the appropriate time. This doesn’t only affect financial situations, but the day-to-day physical care of your minor child.
If you’re a single parent, this article is a good read. I hope it is able to assist you in thinking about extra “to-do’s” in planning ahead for your child.
https://finance.yahoo.com/news/estate-planning-single-parents-111017471.html
