Plan For The Physical And Psychological Care Of Children Upon Death Of Parents
I cannot imagine there is a parent on the planet who likes to or wants to consider the possibilities that they could or would die before their children.
However, it happens. Every single day in the United States children are orphaned. And don’t be fooled into thinking that this happens only among those living in poverty. It happens in every strata of society.
According to a 2010 Wall Street Journal piece, at that time one in nine American children had lost a parent before they turned 20 years old.
I can only surmise that those statistics are even more shocking today. Accidents, disease, gun violence are all increasing exponentially.
In the article cited above, the psychological damage to the children left behind is daunting. I know parents don’t want to think about it, but what would happen to your children should tragedy strike?
If you do not already have one, it may be time to prepare a will and estate plan. Or if you do already have one, it is a good time to make sure it’s updated.
If you are not around to care for your children who will care for them? Having a will and a well-executed estate plan that takes into consideration the physical as well as the psychological well-being of your children is imperative.
Grief caused by the loss of parents is experienced by most young people for the remainder of their lives.
As the WSJ piece points out, “The early loss of a parent can make some people more resilient, responsible and independent. But there are risks, too. Kids who get through by being stoic and behaving like adults often “pay a fierce price—namely their childhoods.”
It may be a good time to review your will and make sure you are prepared for the unexpected. If you would like help reviewing your will, please give us a call.