Related Articles
Is Your Preschooler a Gift Monster?
Training the preschool 'gimme' monster. You can, you know.
Holiday Visiting and Your Preschooler
Travel to and enjoy family reunions with your preschooler. Really!
Nine Safety Musts in Preschool Homes
Protect your preschooler with these nine safety tips.
Contingency Plan For Your Preschool Child's Future Without You
By Stephanie Olsen As a parent, the last thing I want (if something happens to me and their dad) is for my children to be put into a situation in which they feel scared, become surrounded by people they don't know and never realize just how much love I had for them.
With the following three tips you can guarantee that your preschool children will always have the security of knowing just how much you love them, even if you can't tell them anymore.
Tip #1: A Clear Contingency Plan to Protect Your Preschool Children
With a plan in place that(a) names first responders and long-term guardians for the care of your children; and
(b) gives clear guidance to your caregiver and everyone you've named to care for your preschoolers,
your children never have to be put in a situation in which they would be taken out of your home and placed into the hands of strangers if something happens to you.
At KidsProtectionPlan.com, you can read a free report with 7 steps you can take today for absolute peace of mind.
Tip #2: Put That Contingency Plan In Writing
Parents regularly tell me that they have discussed and agreed upon a guardian for their preschool children and have even made their wishes known to their families. However, not documenting your decisions can result in your wishes not being followed when it is too late. If you don't communicate your wishes in a legally binding, document, you are placing your preschool children in the middle of a situation in which every family member has equal priority of guardianship and the State will ultimately decide who raises your children.Legal documentation is particularly important if you intend for a friend to care for your children as courts will almost always choose a family member over a friend.
Tip #3: A Foundation for Your Preschooler's Financial Future
Whether it's through life insurance, savings or some other means, providing sufficient financial resources for your children's care is your responsibility. And, as a responsible parent, you must take steps to protect what your children will receive.
To do so, establish a trust to hold any life insurance benefits that your children would receive so that they do not get access to the assets until the age of 18 (or whatever age you decide). The trust should also hold title to any assets that would go through probate in the event of your death. If your estate is large enough, you will want to plan to avoid estate taxes as well. Consult with a personal family lawyer who can help you protect your children's future.
Alexis Martin Neely is the nation's leading legal expert teaching parents about how to protect their children and their assets. For the peace of mind of knowing your children will be taken care of if something happens to you, sign up for the free Weekly Family Wealth Secrets e-newsletter at FamilyWealthMatters.com
