Having the right legal documents in place is important in case your family faces some unforeseen event such as an accident, serious illness, or sudden death.
As much as we hate to talk about these unfortunate circumstances, the reality is that as parents, we have to be prepared for these in case they happen.
Whether you are a parent to a newborn baby or children who are still of minor age, every parent should be prepared with these key legal documents to make sure that their family is taken cared of should the worst happen.
According to personal family lawyer Alexis Martin Neely, it is best that you work with one lawyer on all these documents. By having a lifetime relationship with a single family lawyer, you can be rest assured that there will be someone there to keep all your documents up-to-date during your lifetime and help your family in case an unforeseen circumstance happens.
Putting all these legal documents together might not be a fun task. However, it’s really important and necessary to have them in case unforeseen circumstances occur.
Below are the 7 important legal documents every parent should have to protect their family:
7. Trust. Trust us, we know nobody likes thinking about money, but establishing a trust now will get rid of headaches and family disputes down the line. A trust ensures that money that you designate to take care of your kids will remain protected.
6. Account information. Keeping a spreadsheet on your family computer with every password, user name and security question answers may seem tedious, but it will be immensely helpful to have in an emergency and you need to access that account you haven’t used in years.
5. Passports. Being ready for the unexpected is the biggest takeaway we can give you! Passports aren’t life or death, but when you need a passport, you often need it quickly and without much warning.
4. Kid’s protection plan. Lots of people aren’t even aware this document exists, but it acts as a supplemental document to a will.
3. Powers of attorney. There are many different types of powers of attorney, but by definition it designates a person to make financial, medical and legal decisions for you if you are unable.
2. A living will or advanced directive. Do you really need a will and a living will? Actually, yes — the two are quite different. A living will states what you want in terms of medical treatments if you become medically incapacitated.
1. A will. This might be the most obvious item on the list, and it’s something that you probably know you should have, but do you? Many parents don’t actually have a will, so get ahead of the curve and start yours now.
This very helpful legal list was put together by the fine folks of Sittercity. These documents are definitely a must have as these documents can really come in handy in times of emergencies and unforeseen situations.
Having these legal documents can help alleviate the stress that comes with unfortunate and unforeseen circumstances. Most of all, these documents can help protect your child and your family when it counts most.
Do you have any of these legal documents handy to protect your loved ones?
