The benefits of micro estate planning

On behalf of admin

When a Wisconsin resident creates a will, it generally allows them to name a guardian for a child. The same is generally true for parents in any other state in the country. However, if a parent passes away or becomes incapacitated suddenly, a child may need care right away. In some cases, a family member or other potential guardian can’t get to the child for several hours.

Even if a guardian is listed in a will, a court may need to confirm that this person is fit to take the child. To account for what happens in the time between an incident involving a parent and when a designated guardian can take over, parents can create a micro plan. This provides instructions for a babysitter to call on or other steps to take when a mother or father doesn’t make it home from work or a dinner date.

A micro plan document can be shown to the police as proof that a child should be sent a neighbor’s house instead of being put in foster care. Ideally, the document will be in an estate plan binder or pinned to the refrigerator for easy access. Having a plan in place may help to reduce some of the fear or anxiety a child feels in the immediate aftermath of losing a parent.

The use of wills and trusts can make it easier to provide for future generations. These tools could also provide for the needs of a minor child in the event that a parent passes or is mentally incapacitated. When creating estate plan documents, it may be worthwhile to have them drafted by an attorney to avoid making mistakes that could render them invalid.