So we are going to push for Power of Attorneys and are setting up our own wills. If something happens, I have to know that Libby is going to be cared for in her home by the people who have raised her. (I continue to pray that Mariah will have all the chances in the world to have her own life). These are hard conversations to have. Down to what happens if we both die? Well, we set up a separate trust just for Libby, the girl who will be an adult. The girl who could have been given money to help with her medical and personal costs if
I'm gone. I can't wait to have something in "power" like this. I am pushing through this process and will share what I learn as I learn it.
Here's some thing's to talk about:
1. Whose name(s) is your real property in? If it is in one name and you're married or a parent/child then that property may be headed to probate.
2. Whose names are the bank accounts in? Is there a right if survivorship in place on those accounts?
3. Do you have a list of names who will take care of your kid(s) if something happens? This is right of succession?
4. If you divorce (the statistics for parents of Special Needs children going through divorces are terrifying) who takes care of the kid(s)? Who handles the medical coverage and decision making?
5. Who is in the Right of Survivorship?
6. Who would be the guardian of the person and/or the estate? This includes the guardian of the trust.
7. Who would be the Executor?
You can state in your will that you want Murphy, the dog,to have a bath every month and to be brushed every week, but that's not legally binding.
Please start thinking. It's not morbid. It's about working with the Powers to make sure that your loved ones continue to feel your love.