Proper estate planning is vital for any adult, but it’s even more important for single parents. You need to make sure you have the right information filed with your attorney so that your children are cared for when you pass away. Here are some of the documents you’ll need to draw up and sign when working with a lawyer.

What Estate Planning Documents Do Single Parents Need?

1. Will

The will is the document most commonly associated with getting your affairs in order. It lets you choose the people who will be responsible for your estate and who you want to take possession of it when you die.

Most single parents will leave their estate to their children, but you might also leave parts to friends or other family members. Make sure you update your will if any of your relationships or circumstances change so your inheritance goes to the right place.

2. Revocable Living Trust

A trust will accept your assets when you pass away. When creating a trust, you should choose an age when you think your child will be old enough to control the assets. Until that age, a specified trustee will take responsibility.

Trusts are made for people whose children aren’t old enough to take care of the assets they would inherit on their own. This doesn’t only include minors. If you believe that your 21-year-old couldn’t handle the responsibility and would spend the money on frivolous things, you can keep the finances in a trust for as long as necessary.

3. Nomination of Guardian

In this document, you’ll name the person you want to be the guardian of your children. If the child’s other parent is in the picture, guardianship will transfer to them automatically.

However, if the other parent doesn’t have custody and isn’t deemed competent, you’ll be able to decide who will take care of your child until they turn 18. Make sure to discuss this decision thoroughly with the person you’ve chosen so you know they’re up for the responsibility.

Trailhead Estate Planning in Signal Mountain, TN, helps clients get their affairs in order with personalized solutions. They offer a large range of services and can draw up all of the documents you need to make sure your kids are cared for. You’ll find easy one-on-one communication that will lead to the perfect estate plan. Visit their website or call (423) 228-7029 to schedule an appointment.