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When Something Is NOT Better Than Nothing- Part 2

In part one of this series, we discussed the hidden dangers of do-it-yourself estate planning. In part two, we cover one of the greatest risks posed by DIY documents.

Maybe you think that you can save time and money with DIY documents you find online.  You’re probably anxious to check estate planning off your life’s to-do list. These forms may tempt you because they seem quick and easy. And you’re busy, so why not? Unfortunately, this is one case in which SOMETHING is not better than nothing.

But DIY wills lead to the false sense of security that you have things covered. But the reality is that those generic forms could end up costing your loved ones more money and heartache than if you’d never gotten around to doing anything at all.

In this way, DIY wills and other legal documents are among the most dangerous choices you can make for the people you love. These generic documents can leave the people you love most of all—your children—at risk.

Children at risk

First, it’s probably distressing to think that by using a DIY will you could force your loved ones into court or conflict if you become incapacitated or die.

Second, if you’re like most parents, it’s probably downright unimaginable to think about your children’s care falling into the wrong hands. But that’s exactly what could happen if you rely on free or fill-in-the-blank wills found online, or even if you hire a lawyer who isn’t equipped or trained to plan for the needs of parents with minor children.

Naming and legally documenting guardians involves a number of complexities that most people aren’t aware of. Even lawyers with decades of experience frequently make at least one of six common mistakes when naming long-term legal guardians.

If wills drafted with professional help are likely to leave your children at risk, the chances that you’ll get things right on your own are pretty much zero.

What could go wrong?

If your DIY will names legal guardians for your kids in the event of your death, that’s great. DIY documents are too risky!  Consider these factors.

  1. Does it include back-ups?
  2. If you named a couple to serve, how is that handled? Do you still want one of them if the other is unavailable due to illness, injury, death, or divorce?
  3. What happens if you become disabled and are unable to care for your children? You might assume the guardians named in the DIY will would automatically get custody, but your will isn’t activated if you become disabled.
  4. What if the guardians you named in the will live far away? It would take them a few days to get there. If you haven’t made legally-binding arrangements for the immediate care of your children, it’s highly likely that they will be placed with child protective services until those guardians arrive.
  5. Even if you name family who live nearby as guardians, your kids are still at risk because it’s possible they might not be immediately available if and when needed.
  6. And who even knows where your will is or how to access it?

The Kids Protection Plan®

To help ensure your children are never raised by someone you don’t trust or taken into the custody of strangers (even temporarily), consider creating  a comprehensive Kids Protection Plan®, which our firm is trained in.

Get the right “something”

Protecting your family and assets if you die or become incapacitated is too important to do on your own. No matter how busy you are or how little wealth you own, the potential disasters of DIY documents are simply too great.

Plus, proper estate planning doesn’t have to be super expensive, stressful, or time consuming. We offer options for all budgets and asset values.

Also, many of our clients actually find the process highly rewarding. Our systems provide the type of peace of mind that comes from knowing that you’ve not only checked estate planning off your to-do list, but you’ve done it using the most forethought, experience, and knowledge available.

Act now

If  you haven’t done any planning yet, contact us to schedule a Planning Session. This evaluation will allow us to determine if a simple will or some other strategy, such as a living trust, is your best option.

If you’ve already created a plan—whether it’s a DIY job or one created with another lawyer’s help—contact us to schedule an Estate Plan Review and Check-Up.

No matter what you do, make sure  have a “something” that’s actually better than nothing. Contact us and we’ll provide you with that level of confidence—and so much more.

This article is a service of Myrna Serrano Setty, P.A. We don’t just draft documents, we help you make informed and empowered decisions about life and death, for yourself and the people you love.

That’s why we offer a Planning Session, during which you will get more financially organized than you’ve ever been before, and make the best choices for the people you love. Call our office today to schedule a Planning Session and mention this article to find out how to get this $500 session for free.

Guardianship: Keeping Up With the Kardashians

You might not be a big fan of this famous family, but the Kardashians recently demonstrated impressive wisdom in protecting their minor children using estate planning.

During a recent episode of Keeping Up With The Kardashians, Khloé Kardashian was preparing to give birth to her first child, daughter True. Khloé was second-guessing her first choice to name her sister Kourtney as the child’s legal guardian in case anything ever happened to her or the baby’s father.

During her pregnancy, Khloé spent a lot of time with her other sister Kim and her family. Watching her interacting with her own kids, Khloé really connected with Kim’s mothering style and pondered if she might be a better choice as guardian.

“I always thought Kourtney would be the godparent of my child, but lately I’ve been watching Kim, and she’s been someone I really gravitate to as a mom,” Khloé said.

To make things more challenging, Kourtney always assumed she’d be named guardian and said as much. Over the years, Khloé had lots of fun times with Kourtney and her family. So Kourtney thought her own passion for motherhood would make her the natural choice.

For guidance, Khloé asked her mother, Kris Jenner, how she chose her kids’ guardians. Kris’ answer was to compare how her two sisters’ raised their own children.

“You just have to think,” Kris told her, “‘Where would I want my child raised, in which environment? Who would I feel like my baby is going to be most comfortable and most loved?’”

In the end, Khloé chose Kim over Kourtney. She explained her decision had nothing to do with her respect or love of Kourtney. But it was merely about which style of parenting she felt most comfortable with.

“Watching Kim be a mom, I really respect her parenting skills—not that I don’t respect Kourtney’s, I just relate to how Kim parents more,” said Khloé. “I just have to make the best decision for my daughter.”

Lessons learned

Khloé’s actions are admirable for several reasons. First off, far too many parents never get around to legally naming a guardian to care for their children in the event of their death or incapacity. Khloé not only made her choice, but she did so before the child was even born.

Khloé also took the time to speak and spend time with her sisters beforehand, so the family understood the rationale behind her decision. Khloé was lucky her choices were close family members, so she had ample opportunity to experience both of their parenting styles.

Depending on your life situation, you might not be able to spend that much time vetting your choice. But at the very least, you should sit down with each of your top candidates to openly and intimately discuss what you’d expect of them as your child’s new parents.

Avoid conflict and court

Furthermore, with multiple family members vying for the guardian role, Khloé’s quick action may have prevented a potential nightmare. If she’d delayed naming a guardian and something happened to her, Kourtney, Kim, and even other family members could’ve gone to court seeking guardianship of her daughter.

This could have led to years of contentious legal battles that not only cost the family huge sums of money, but the potential hardship imposed on the children can be incalculable. Even if you think something like this would never happen to your family, why take the risk, especially when it’s so easy to avoid?

Get started now

While the Kardashians are rich and famous, you too can provide the exact same level of protection for your kids, even with minimal financial resources. It’s important as soon as it’s physically possible to choose someone who will step in to raise your children if you cannot. You must also legally document your choice and make sure the individual you’ve selected knows what to do if they’re called upon.

Many parents have no idea how to go about making this critical decision, much less create a legally binding plan, so they never get around to doing it. And even parents who have legally named a guardian (even with a lawyer’s help) often make at least one of six common mistakes that leave their children at risk.

That’s because most lawyers aren’t aware of all that’s involved with planning for the well-being and care of minor children after their parents’ death or incapacity. But at Myrna Serrano Setty, P.A., we’re dedicated to legal planning for the unique needs of families with young children.

And if you’ve already named guardians on your own or with a lawyer, we can review your existing legal documents. We’ll determine whether you’ve made any of the six common mistakes that leave your kids vulnerable and help you fill those gaps.

Beyond naming legal guardians,  can create a comprehensive estate plan with all of the necessary legal documents to ensure the protection and well-being of your entire family and assets, no matter what happens. Contact us now.

 

Talking to Your Kids About School Violence

 

 

 

 

On February 14, 2018, there was another mass shooting at a school, this time in Parkland, Florida. Our thoughts and prayers are with the families devastated by this tragedy. As we struggle to cope with this tragedy, we need to figure out how to talk about this with our kids. Parents can help their kids feel safe (or safer) by establishing a sense of normalcy and security and by talking to them about their fears. At some point, our kids are going to learn about what happened, and we need to be prepared to talk about it.

How do we do that? Here are some tips:

1.     Observe your child’s emotional state. Sometimes it takes a while for anxiety and depression to manifest itself. You know your child better than anyone. And don’t be afraid to seek professional help. 

2.     Make time to talk. Let your child’s questions guide you in how much information to provide. Sometimes it takes a while for them to express their feelings.

3.     Validate their feelings. Let them talk about their fears.

4.     Keep your explanations developmentally appropriate. For example, kids in early elementary need brief, simple information balanced with assurance that school personnel are there to protect them. Give simple reminders of school safety, like reminding them about school safety drills and locked doors.

5.     Review safety procedures at home and at school. This is a good chance to also review your family’s emergency procedures. For example, if something happened to you, who would the school contact? Who would have the legal authority to take care of your kids? What happens if you don’t live near family?

6.     Limit television viewing. We live in an era of the 24-hour news cycle. This can be overwhelming, even for adults.

7.     Explain that there’s a difference between reporting, tattling and gossiping. Encourage kids to talk to a trusted adult if they see or hear about something that may harm others.

8.     Explain that while there is no absolute guarantee that nothing bad will ever happen, you will try your best to keep them safe because you love them more than anything in this world.

This article is a service of attorney Myrna Serrano Setty, who does more than just draft documents. She guides families through difficult topics, like estate planning, so they can protect what matters most. Myrna may be reached at (813) 514-2946 and info@serranosetty.com.