Children provide perhaps the largest impetus to creating an estate plan in Washington. With the arrival of a child the parents' concern naturally centers on the care of the child in the event that something happens to one or both parents. When one is a single parent, estate planning can become a more urgent priority.
Ensuring continuing care for one's child in the event of one's death or incapacity is of paramount importance to most parents. If a child's other parent is living, he or she will often be the designated guardian. However, there are instances when that may not be a viable option. In that event, there are many factors that need to be considered.
Among these would be who will be the child's designated guardian and who will be the alternate guardians? How will financial support be set up? A trust can be established to cover these and other scenarios. If establishing a trust, who will be the trustee? Other considerations may include who can have a significant influence on the child's life regarding everything from dating, to education, to after school activities, health care and other issues.
Planning for a future for one's child in which the parent is not present can be a stressful and difficult exercise in Washington. Regardless of what plans one comes up with they may seem inadequate, not good enough for the most precious person in one's life. Consulting with an experienced estate planning attorney can assist one in ensuring that all major aspects of a child's future needs have been accounted for and that the plan allows for changes to accommodate future needs.