Estate Planning for Immediate Crisis-Right Now!

Here are a couple of examples of things that actually happen. What advice can you give yourself or others if you were to be the one it happened to?

Mom and Dad have two small children, ages 12 and 10. They are home alone while Mom and Dad get in the car and drive to the mall to do the week’s shopping. This is a Saturday routine for the family. Mom and Dad run some errands for an hour or so and the boys do some chores.

This time, there is a terrible automobile accident. Mom is killed and Dad is taken to the hospital in a coma. The kids don’t know yet, but be sure they will. Pretty soon, an officer will phone or show up at the door.

If this is you:

• ·         Do you have anyone to come get the kids and take care of them temporarily?
• ·         What about helping them maintain their routines: school, soccer practice until more permanent arrangements are in place?

Maybe you have set up permanent arrangements for guardians and etc, but what about the immediacy? Right now! Do you have plans in place and people in the know to be contacted?

Or,

An elderly man retired to a “gentleman’s farm” a few years ago. He’s now a widower with two horses, a pig, some chickens, and a dog. He has a heart attack and passes away in the night.


          ·          Who’s going to know?
        ·         Who’s going to feed and water the animals and when?
        ·         Who’s going to shut off the irrigation water – and when?

This is an area of estate planning that is seldom addressed until it’s too late. Awareness and a little careful planning can bring a wealth of relief. There are some terrific ideas and simple systems out there.