This workshop covers general estate planning principles for parents, with specific attention on how to protect both your minor and adult children. Ensure your kids are taken care of by the people you want, the way you want, no matter what happens to you. Parents need to prepare a Guardianship from nominating a guardian for their minors kids. Parent with adult children (age 18) needs to realize that once their children are adults they can no longer make any decision for them, therefore, their kids need their own Durable Power of Attorney, Advance Health Care Form and a Simple Will naming people they trust to make the decision for them.
Marilyn Monroe’s Will left 75% of her fortune to her acting coach, Lee Strasberg, with “wishes” for him donate it to charity.
Strasberg later married, and at his death, his estate plus all Monroe’s licensing and royalty fees went to his widow – a complete stranger to Marilyn – and not to charity!
Unintended Heirs – Is just one of the many reason Trusts are so important for Unmarried Individuals.