Kids' Protection Planning
Our young children are our lives and our greatest blessings. They mean everything to us and everything we do is with them in mind. They are our past and future put together, and they reflect all of our hopes and dreams combined. As parents of minors ourselves, we know full well the deep love and fears that fill every parent's minds and hearts.
If you are a family with young children, then your estate plan should begin with a foundation that ensures your children would always be taken care of, no matter what happens. At Kundani & Chang, we take nothing for granted when we plan for the care and custody of your young children, since it is your single most important responsibility. Unless you do it the right way, you will never have true peace of mind.
As parents as well as counselors to our clients, we decided long ago to take a comprehensive approach to planning around the most important questions and fears that parents often ask about.
Some of these questions include the following:
- What if something happens to us?
- What will happen to our children?
- Who will take care of them?
- What must we do now to ensure that they will stay protected and cared for, if something happens to us?
What Could Happen
Without proper planning, if the unthinkable happens to you, here’s what could happen:
The Drawbacks of Typical Estate Planning
When it comes to guardianship, most estate plans simply rely on a single paragraph in a will to address the issue. A will typically lists who the long-term guardians should be in the event of the death of both parents.
There are several problems with this approach, as it fails entirely to address the following issues:
- What if the parents become incapacitated?
- Who are the child’s short-term guardians?
- What happens if someone challenges guardianship?
- What happens if the child is taken into foster care?
- What if no one can find your will before the police or DCFS arrive on scene?
These are the most likely scenarios, unfortunately.
A More Practical Approach
Our Kids’ Protection Plan is a comprehensive approach to ensuring that your children are raised by the people you want and how you want – at all times. We have filled in all the gaps to make sure that your children will always remain in the custody of loved ones that you choose. Our firm has taken a leading role in developing programs within the community to ensure this occurs. Our plan has been approved both by local schools and law enforcement agencies, and we’ve trained them on how to implement the following:
- Nomination of First Responders & Temporary Guardians
- Written Instructions to Caregivers/Babysitters
- Nomination of Long-Term Guardians
- Medical Powers of Attorney for Minor Children
- Kids’ Protection Plan Identification Cards
- Confidential Exclusion of Guardians
- Fiduciary Letters to Short and Long Term Guardians
- Instructions to the Guardians
When it comes to our children, there should be no shortcuts. At Kundani & Chang, it’s our job to make sure your family always stays protected.