What are steps i can cart to protect my child if i died?
I ALREADY KNOW ABOUT LIFE INSURANCE
Answers:
Make out a will! This is very major. Specify who will take guardianship of the child within your absence. It can be done online contained by most cases. If not, you can write it out yourself and have it notorized. This will stand up surrounded by court if there are any issues as far as who you want to transport care of the child, ie ex-spouse, grandparents, extended relatives, etc... . And it is good that you already know more or less life insurance, but who do you hold as the beneficiary? Is it the child? Is the child a minor right now? If so, later you can still name the child as beneficiary, but you will also hold to name an grown until the child is 18. In my case, I enjoy my son as sole beneficiary (he is ten) and my mother and my brother are co-beneficiaries. If I die before he is 18 the money will stir 50-50 to my mom and brother with the stipulation that the monies are to be used for my son. I trust both of them and know that they will see that he is taken keeping of. I am divorced and did not want to risk just naming my son and have the money go to my ex and not be used for my son. If he is over 18 later 100% will go one and only to him. I also have a will stating that my parental rights will move about to my mother. If she has already passed on at that time they will step to my brother. You may also want to speak to an attorney. They can tell you what specifically wishes to be stated in a will. I hope this help.
Who will be the legal guardian?
Where will your child live?
Get a endorsed will from a lawyer.