If you are unable to take care of your children, you should make plans to protect your children. You need to decide who will raise your children and how they will raise your children. Do you want your children's guardians to impart your value to your children? Under what conditions do you want your children to receive your money? With life insurance, your estate may be worth more than you realize. If you do not plan, your children will come into a large sum of money at 18. Do you think your children will be mature enough at age 18 to inherit a small fortune?
Young and disabled children are vulnerable and you need to protect them by planning for them. Jeff will work with you in analyzing the problems you and your family will face and focus on finding solutions.
If you do not plan, the legal system provides a plan for you. A judge and the state will decide who will raise your children, how they will be raised and a court will supervise how your assets will be managed. At age 18 the State will declare each of your children adults and hand over to each child their proportionate share of their estate. This plan only works if you do not have anyone you can trust to take care of your family.
A Judge does not know your family and will only briefly see your family before the Judge makes a decision. You will run the risk of family members fighting for custody of your children and the family member who prevails may not be the one who is best to raise your children.
However, if you know who you want to take care of your children and how you want them to take care of your children, you can choose what is best for your family.