Tuesday, July 20, 2010
A Straight Shootin’ Wake Up Call From Your Neighborhood Houston Will Lawyer
If you didn’t come home tomorrow—what would happen to your children? A straightforward article by Houston Will Lawyer, Kim Hegwood, on the realities of dying without a proper estate plan in place.
From the desk of Kim Hegwood, Houston Will Lawyer
As a Houston will lawyer, I am absolutely passionate about educating parents on the importance of having their legal and financial house in order should death or incapacity unexpectedly occur.
As a mom myself, I realize the thought of checking out early can be hard to swallow, let alone plan for. Yet on the flip side, those feelings can easily lull parents into paralysis and prevent them from taking the proper steps necessary to protect their loved ones should something tragic occur.
Contrary to popular belief, Houston estate planning in general can be a positive, interactive and joyful experience. It is amazing how empowered people feel when they leave my office knowing their children will be legally and financially protected should the unthinkable happen.
But for today’s post, I am going to be blunt and to the point.
Simply put, it is the responsibility of every parent to get their legal and financial house in order to ensure their children stay protected, no matter what. As you can imagine, children are extremely helpless and vulnerable in emergency situations, so it is up to YOU to put safeguards in place so your kids are never left at the mercy of a judge or in the arms of someone you would never want to raise them in your absence.
Let me give you a few cold-hard facts about what would happen to your kids if you died tomorrow without a will or trust in place:
1. A judge who doesn’t know you or your family will be forced to make painful custody decisions on your child’s behalf.
If something happens to you, who is going to step up? Is it the person that you want to raise them? If you do not have an estate plan in place, will your relatives fight over who is or isn’t responsible for raising them? Do you really want to put your children through that?
2. The person who the Judge picks to raise your kids will also be responsible for their financial well-being.
If something happens to you, all of your assets will be handled by a guardian (that you did not select) to be managed for them. The obvious fear is that this person could possibly use the funds for something other than the care of your children. However, there are many other things to consider. Does the person that the Judge picked have the same financial values that you do? For example, you may feel strongly that you would like your children to attend high-sports or music clinics to help develop their skills. But, will the guardian see the value in this? Maybe they think spending that much money is a waste.
3. All of the money left from your estate (assuming there IS any) may go to your child in a lump sum when he or she is 18 years old.
Think about this one. What would you have done if someone handed you a bunch of money at 18 years old? Scary thought, huh? The hard truth is that most 18 year olds are simply not mature enough to handle finances at that age. I have witnessed case after case of kids who should have been well-off financially, but were not because they decided to buy cars and clothes instead of investing in their future by going to college.
So, there you have it. Consider this a virtual smack in the head for those that need it. My hope is that you will see this article as an urgent wake-up call and do what it takes to make sure your family is protected, no matter what. To help you do just that, I will give you a Lifetime Legacy Planning Session (normally $750) as a reward for stepping up and doing what is right by your family.
Simply call me, your neighborhood Houston Will Lawyer at (281) 218-0880 to reserve your spot. However, this offer is limited to the first 10 appointments so don’t wait….protect your family today!