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 DieselEngineer
Chief Engineer
Life Member
Joined: Nov 2008  NH, USA
 
 Posts: 3585 Feedback: 100% (4) |
Posted: 7/26/2012 7:22:44 AM
THE IMAGE ABOVE IS A PAID ADVERTISEMENT I know I need to designate who gets custody in the event both my wife and I die. How would I assure that our assets would be available to help raise the child? Some type of trust?
what else would be necessary that I am missing?
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BushBoar
Hated Divorce Lawyer
Moderator
Joined: Mar 2004 NY, USA
Posts: 21148 Feedback: 100% (24) Link To This Post |
Posted: 7/26/2012 9:09:10 AM
Originally Posted By DieselEngineer: I have a daughter due in September. What legal arrangements should I make? I know I need to designate who gets custody in the event both my wife and I die. How would I assure that our assets would be available to help raise the child? Some type of trust?
what else would be necessary that I am missing? You will need to speak to a lawyer in your state. You can probably designate a guardian for the child and her property in your will (they don't necessarily have to be the same person), but that's a sloppy way to do it for the property. A trust would be a better idea. They can get pretty detailed and you can provide for specific things like a car at a certain age, college expenses with GPA requirements, etc. |
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MotorMouth
Highly evolved idiot
Team Member
Joined: Oct 2008 OH, USA
Posts: 12846 Feedback: 100% (12) Link To This Post |
Posted: 7/26/2012 12:14:11 PM
You might also look into getting a document for consent to medical care of your child if you ever need to leave your child in the care of another. (Can't recall what it's called at the moment.) That way, when you and the missus are flitting about Europe, your in-laws can authorize the doctors to treat your child.
Bushboar has the right of it. Go see a local attorney, and ask what they'd recommend for you. Oh, and congrats on the impending fatherhood. |
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