Estate planning for single parents is vital to ensure your child’s future is secure and your wishes are respected. By taking proactive steps, such as choosing a guardian, setting up a trust, and updating your beneficiaries, you can create a plan that protects your child no matter what life brings.
Whether you’re traveling for leisure or business, having the right estate plan ensures peace of mind, knowing your loved ones and assets are protected if the unexpected happens.
Nominating someone else as trustee or co-trustee does not mean you lose control. The trustee must follow the instructions outlined in your trust and may need to report back to you. You can also replace your trustee if needed.