The San Diego Union Tribune, in April of 2011, have an article discussing retirement, estate planning and guardianship. In the article, which deals with financial planning as well as other issues, one of the recommendations is for an estate plan and guardianship of their children. An estate plan can include a revocable living trust which also has many other benefits such as a health care directive and guardianship provisions for any minor children.
A revocable living trust is an estate plan which can be changed or modified as circumstances require. A revocable living trust is one of the only areas in the law where you can make a contract with yourself and it is legally enforceable. Provisions in the revocable living trust can include what happens with your minor children upon your death and many other issues such as property division. The financial security of your family may well depend on your estate plan which can save thousands of dollars in probate fees.
If you have questions regarding your estate plan or any other estate plan issues, please feel free to contact us for a confidential and complimentary consultation.