Having a baby changes more than the family calendar. Parents also begin making decisions that can affect their child long after the nursery is ready. Estate planning may feel premature when a child is still young, but it gives parents a way to address who will care for the child and who can step in if something happens to them.
For Florida parents, three documents can help create that framework.
1. A will can help protect a child’s future
A will lets parents state how they want certain property handled after death. It can also name a person they want the court to consider as guardian for a minor child.
Florida law recognizes parents as the natural guardians of their minor children. If one parent dies, the surviving parent generally remains the child’s sole natural guardian. A will can still provide important instructions for situations involving guardianship and property.
Florida also requires specific signing and witnessing procedures for wills. Following those rules can help a parent’s wishes carry out as intended.
2. A power of attorney can help manage financial affairs
A durable power of attorney can address financial and legal matters if a parent cannot manage them independently. The document names an agent who can act within the authority the parent grants.
Florida law allows a durable power of attorney to remain effective despite the principal’s later incapacity. For parents, this arrangement can allow a trusted person to handle bills, accounts and other responsibilities during an unexpected crisis.
The powers granted can vary, so parents should think carefully about whom they appoint and what authority that person should receive.
3. A health care surrogate can guide medical decisions
Parents should also prepare for a situation in which they cannot speak for themselves during a medical emergency. A Florida health care surrogate designation allows a person to appoint someone to make health care choices when the person cannot do so.
Parents can also name an alternate surrogate. Having a backup can help if the first person cannot serve when needed.
Together, these documents address different parts of a family’s future, from property and finances to guardianship and medical care.
A plan can grow with the family
New parents do not need to predict every challenge their family may face. They can start by putting basic legal documents in place and revisit them as their children, finances and circumstances change.
Because estate planning needs vary from family to family, a Florida estate planning attorney can help parents understand which documents and provisions may fit their circumstances.