A Guide to Wills and Trusts for Single Parents

When it comes to planning for the future, single parents in Boerne face unique challenges. Raising a child or children by yourself is challenging on many levels. Single parents have very little spare time or resources, making planning for the future even more important than if another parent was involved says a recent article from The News-Enterprise, “Single parents must be deliberate in estate planning.”. Estate planning is one of the most important steps you can take to protect your children and assets. At McCammon Law, we focus exclusively on providing comprehensive estate planning services, including wills, trusts, and other essential legal documents. This article will help you understand the key elements of wills and trusts, particularly as they relate to single parents.

What Is a Will and Why Do You Need One?

A last will and testament is a fundamental document in any estate plan. It dictates how your assets will be distributed after your death. Without a will, Texas laws of intestacy determine the distribution, which may not align with your wishes. A will also allows you to name guardians for your minor children, a critical decision for single parents.

Considerations for Naming a Guardian for Minor Children as a Single Parent

Whether or not the other parent will be named as a guardian who will take custody of the child(ren) depends on whether or not they have any legal custody of the children. If the parents were married at one time but the marriage ended after the child was born, there is likely to be a separation agreement addressing custody.

If both parents share custody, the surviving parent would take custody of the child. This is standard practice, regardless of who has primary custody. But if the parents never married and no one pursued an order of paternity in Texas or entered a custody order recognizing the legal rights of the noncustodial parent, or if a parent has lost any legal rights to the child, the parent needs to name a guardian and an alternate guardian. Boerne wills and trusts are both strategies for single parents to ensure that minor children are cared for by the people they choose if the unthinkable happens to one or both parents.

What Happens If You Die Without a Will?

Dying without a will, known as dying "intestate," leaves important decisions up to the state. Texas will determine the guardianship of your children and the distribution of your assets, which may not reflect your preferences. Having a will ensures that your wishes are honored, providing peace of mind for you and security for your children. Read more in our article, Should Young Families have an Estate Plan?

How Can a Trust Benefit You and Your Children?

Trusts offer more flexibility and control over your assets than a will. They can be tailored to fit various needs, from managing assets for minor children to protecting a special needs child. McCammon Law in Boerne offers various types of trusts, including:

• Revocable Living Trusts: These can be altered or revoked by the trust-maker during their lifetime.
• Irrevocable Trusts: These cannot be changed once established but offer benefits like tax reduction and asset protection.
• Special Needs Trusts: These are specifically designed to benefit a child with disabilities without affecting their eligibility for government benefits.

Why Consider a Trust Over a Will?

Trusts can help avoid probate, a potentially lengthy and costly court process. Assets in a trust can be managed and distributed according to your terms without the need for court intervention. Trusts also offer privacy, as they do not become public records, unlike wills that go through probate.

Who Should You Name as Guardian and Trustee?

Choosing a guardian for your children is one of the most critical decisions you will make. This person will be responsible for their upbringing if you pass away. Similarly, selecting a trustee to manage the assets in a trust is equally important. You can choose the same person for both roles or different individuals, depending on their strengths and your family's needs.

What Should You Consider When Choosing a Guardian?

• Compatibility with Your Parenting Style: Will they raise your children according to your values and beliefs?
• Financial Stability: Can they afford to take on the additional responsibility?
• Willingness and Ability: Are they willing and able to take on the role, both physically and emotionally?

What Legal Strategies Are Available for Estate Planning?

McCammon Law provides a range of legal strategies to help secure your family's future. These include durable powers of attorney, health care documents, and various types of trusts. Our goal is to replace the state's default plan with one that reflects your wishes and protects your loved ones.

How Can McCammon Law Help?

Attorney Shawn McCammon and his team are dedicated to making estate planning accessible and understandable. Our clients have praised our professionalism, responsiveness, and ability to simplify complex legal processes. For instance, one client noted, "Shawn put us at ease right away with his friendly and personable nature. He blew us away with his professionalism and knowledge of estate law"​​.

Ready to Secure Your Family's Future?

Creating a wills and trusts tailored to your needs in Boerne is one of the most significant gifts you can give your loved ones. At McCammon Law, we are committed to providing you with the guidance and support you need. Whether you are interested in setting up a will, a trust, or any other estate planning tool, we are here to help.

Request a Consultation Today
Take the first step toward securing your family's future. Request a Consultation with McCammon Law today. Let us help you create a comprehensive estate plan that gives you peace of mind and protects your loved ones.