Parents may wish to give thought about what might happen to their kids immediately after they parents pass away. General estate planning can provide the names of guardians for the children, but what about immediate guardianship? This is where micro estate planning may be something for Arkansas parents to consider.
A will addresses the long-term guardianship of minor children in the event their parents should die. But perhaps a second document should be in place — a micro estate plan document — that stipulates who should care for the children should the death of parents be sudden and unexpected such as in a car crash. In other words, who should look after the kids until their legal guardian can take them?
If no one is named in a situation like this, the police will likely contact child protective services, and the children would be placed in CPS care. It’s scary for parents to think about their children being with strangers, when a clear document can designate who should look after them immediately should both parents die at the same time. This type of document is for the benefit of the children who, after having tragically lost their parents, would be better off being looked after by someone they know and trust.
An Arkansas attorney can help to fashion such a micro estate planning document for these circumstances. With such a document in place, parents can have peace of mind knowing their children will receive immediate care and attention from someone they trust instead of ending up in care until legal guardianship kicks in. A lawyer can help identify all important estate planning considerations and come up with a plan to address them appropriately.