You and your partner work hard to ensure that your children have what they need. While you’re planning for their future, you have a plan to create that might not be all that pleasant. You need to determine who will raise the children if you pass away.
For a same-sex couple, this type of planning is critical. If you are legally your child’s only parent and want your partner to raise the child if you pass away, you need to have this outlined in your estate plan. An alternative possibility is for your partner to adopt the children while you’re still alive. This requires that the child’s other biological parent not be in the picture.
When you’re thinking about who will raise the children, be sure to have a plan for what will happen if you and your partner both pass away if you’re both legally the children’s parents. The person you name in the document is the guardian. Ideally, you will name someone who can raise the children in the same manner you would. Be sure they can keep up with the child, have the emotional stability to raise them and are able to handle the financial responsibility.
You can also use your estate plan to set up a bit of financial stability for your children. Setting up the will and establishing trusts can do this. Remember that if you and your partner ever split up, you’ll need to review this plan and change up any components that don’t work considering the end of the union. An advocate who is experienced in LGBTQ family law issues can help you make plans that will secure your child’s future.