Planning for the Unthinkable: Essential Tools for Parents of Minor Children

Did you know that roughly 75% of Americans don’t have a basic will 1? Even more concerning is that many of these individuals have children under the age of 18, leaving their families vulnerable to unnecessary legal complications and uncertainty.

Estate planning is often misunderstood as simply a way to distribute financial assets. However, for parents of minor children, it serves a far more critical purpose: ensuring your children will be cared for by the right people and provided for financially if something happens to you.

To create a comprehensive safety net for your children, your estate plan must do more than just manage your money—it must also protect your children from the unthinkable.

Three Essential Estate Planning Tools for Parents

As parents, we naturally strive to shield our children from harm and set them up for a successful future. While we can’t predict what tomorrow holds, we can prepare for it. Estate planning ensures your children will be cared for according to your wishes, protecting their well-being in the event of your incapacity or untimely death.

Consider this: more than 4% of children will lose a parent before they turn 18 2. Without an estate plan, the fate of your children could be left to the courts—where judges, not you, decide who raises them and manages their inheritance.

To safeguard your children’s future, you’ll need these three essential estate planning tools:

1. A Will or Revocable Living Trust
2. Authorization to Consent to Health Care for Minors
3. Standby Guardian Nomination

1. Last Will and Testament: Naming Guardians and Protecting Inheritances

A last will and testament is the foundation of any estate plan—but when you have minor children, its role becomes even more significant. In addition to dictating how your money and property will be distributed, your will allows you to:

• Name a Guardian for Your Children:
  
  
• This is the person you trust to raise your children if you and the other legal parent pass away.
• Most parents choose close family members (e.g., grandparents or siblings) or lifelong friends.
• Without a named guardian, family disputes or legal battles could arise over custody.
• In North Carolina, even if you nominate a guardian, a court must confirm the appointment, ensuring it aligns with the child’s best interests.
  
  
• Establish a Testamentary Trust for Your Children’s Inheritance:
  
  
• Under North Carolina law, minors cannot directly receive an inheritance until they turn 18.
• Without a trust, the court appoints a guardian to manage the inheritance until the child comes of age—at which point they receive full access to the assets.
• This can be problematic, as many 18-year-olds lack the maturity to responsibly manage large sums of money.
• By creating a testamentary trust, you can:
• Appoint a trusted trustee to oversee the inheritance,
• Specify when and how your children receive their inheritance (e.g., in stages at 25, 30, and 35), and
• Protect the funds from being squandered or mismanaged.
  
  
• Designate an Executor:
  
  
• Your executor (also called a personal representative) is responsible for carrying out the terms of your will.
• This includes managing your estate, handling debts, and distributing your property.
• The executor may collaborate with the guardian and trustee to ensure your children’s care and inheritance are properly managed.

2. Authorization to Consent to Health Care for Minors

An authorization to consent to health care for minors is a legal document that allows a designated individual to make medical decisions for your children if you’re unavailable or incapacitated.

• This trusted person will be empowered to consent to treatments on your child’s behalf, access medical records, and make urgent healthcare decisions in your absence.
• This tool is particularly important if you often travel, have shared custody, or rely on non-parental caregivers (e.g., grandparents or close friends).

3. Standby Guardian Nomination: Immediate Protection in Emergencies

A standby guardian nomination is a vital tool that addresses short-term guardianship in case of your death or incapacity.

• Without this document, the court will decide who takes temporary custody of your children—a process that can be lengthy and unpredictable.
• By nominating a standby guardian, you:
• Ensure someone you trust can immediately step in and care for your children.
• Avoid potential delays in providing stability for your kids.
• Minimize the risk of your children being placed with someone you wouldn’t choose.
• While your will should name a guardian, having a separate nomination document allows for easier updates as circumstances change—without the need to revise your entire will.

Bonus Tool: Revocable Living Trust for Added Protection

In addition to a will, health care authorization, and standby guardianship, parents should consider creating a revocable living trust.

• With a trust, you can:
• Hold your assets (e.g., property, savings, and investments) during your lifetime.
• Maintain full control over the trust while you’re alive.
• Designate a successor trustee to manage the assets if you become incapacitated or pass away.
• Avoid probate, allowing for faster access to resources your children may need.
• You can also outline specific inheritance terms, ensuring your children receive funds at appropriate ages and under favorable conditions.

Other Key Planning Tips for Parents

While legal documents form the foundation of your estate plan, you can take additional steps to strengthen your children’s protection:

• Write a Letter of Intent:
• This informal document allows you to explain your guardian choice and express your wishes regarding your children’s upbringing, education, and values.
• Courts may consider this letter if guardianship is ever contested.
• Name Alternate Guardians:
• Life is unpredictable, and your first choice of guardian may be unable or unwilling to serve.
• Naming backup guardians ensures your children are always in trusted hands.
• Have Open Family Discussions:
• Talk to potential guardians and family members in advance to avoid surprises or disputes.
• Clear communication helps prevent misunderstandings and reduces the risk of future conflicts.

Creating a Comprehensive Estate Plan: The Best Gift for Your Children

While no parent wants to imagine being unable to care for their children, estate planning is one of the most meaningful ways to protect them. By combining:

• A will or trust to manage their inheritance
• Legal tools to ensure proper healthcare decisions
• Guardian designations for both short-term and long-term care, you create a comprehensive, protective plan that offers peace of mind for you—and lasting security for your children.

Don’t leave your children’s future to chance. Contact us today to create an estate plan that safeguards your family, no matter what the future holds.

1. Victoria Lurie, 2025 Wills and Estate Planning Study, Caring (Feb. 18, 2025), https://www.caring.com/caregivers/estate-planning/wills-survey. 
2. George M. Hayward, New 2021 Data Visualization Shows Parent Mortality: 44.2% Had Lost at Least One Parent, U.S. Census Bureau (Mar. 21, 2023), https://www.census.gov/library/stories/2023/03/losing-our-parents.html.