Parents in Nevada and elsewhere can take steps to protect their children by creating a last will and testament before they die. It’s not a task that is pleasant, but it allows people to make decisions regarding their finances and property as well as how any younger children will be cared for if their parents die before the children are 18.
Almost 50 percent of parents die before they have a chance to make a will. If there isn’t a will in place, then the state often decides what happens with any finances or property and any minor children. A will is beneficial because it allows parents to make sure the wishes they have for their children are carried out.
Individuals can establish a care plan in their will that addresses who will raise their children if both parents die. Before designating anyone, people should discuss the plan with the guardian they have in mind. The education of the children can also be established in the will, such as will they be homeschooled or go to public school. Money can be set aside for a college education as well. Children with special needs also should be taken into consideration when a will is made. Parents can designate how much money is left for the child’s care and who will provide it. A will also can establish how money and property are to be divided among all of the children. A life insurance policy is an option for parents who rely on one spouse to support the family. A will should be reviewed at least once a year to ensure that it reflects any needed changes.
An attorney that specializes in family law can help parents create a will that is fair to everyone. A lawyer can properly file the will with the courthouse so that it will be followed by the state.