Every parent’s goal is to ensure that their children are always loved and protected in every situation. But what if something happens to both parents of a child? Continue reading to find out.
What Happens to Children If Both Parents Pass Away?
If something unexpected happens to the parents of a minor, the court will need to determine who should become the child’s guardian. Friends and family members can often nominate themselves to be appointed as a guardian; however, the court will have the final say in who would be the best guardian for your child.
But you and the court may have different ideas as to who would be the ideal person to care for your children if you aren’t around.
Can I Decide Who Would Be My Child’s Guardian?
Yes, you can name your child’s guardian in the event of you and the other parent’s death when you draft your will. You can also name a property guardian in your will to ensure that that person manages your child’s assets on their behalf. Without a will, the assets would be overseen by someone appointed by the court. Your child would have access to the account when they turn 18.
Why Estate Planning Is Important for Young Couples
Since we live in an unpredictable world, unexpected events arise all the time. That is why it is important for parents to plan for their children in the unlikely event that something happens to both of them. Many unexpected accidents have caused parents to leave their children behind, for such reasons, it is imperative to plan for the worst-case scenario.
Although it is important that we always hope for the best, we should be prepared for the worse.