Estate Planning Considerations for Parents of Adopted Children
May 11, 2022
If you are the parent of an adopted child, there are some specific estate planning considerations that you need to keep in mind. Unlike biological children, adopted children may not have a legal right to inherit from their biological parents, but they do have the legal right to inherit from their adopted parents.
In this article, we will discuss some of the most important things to keep in mind when creating an estate plan that involves adopted children.
Ensure Your Estate Plan Includes Your Adopted Children
One of the first things to consider is whether or not you want all of your children, biological and adopted, to inherit from your estate. If you do, you will need to specifically designate them as beneficiaries in your Will or Trust. In addition, if you choose to disinherit a child, biological or adopted, you must also do so clearly and specifically in your Will or Trust. You should also keep in mind that, unless you say otherwise, distributions will be equal among all your children. This is something you will need to take into account when deciding how to distribute your assets.
Another thing to consider is who you want to serve as the guardian of your child in the event of your death. This is an important decision, as the guardian will be responsible for taking care of your child if you are no longer able to do so. You should carefully consider who would be best suited to take on this responsibility and make sure that they are aware of your wishes.
These are just a few of the estate planning considerations that parents of adopted children need to keep in mind. If you have an adopted child, it is important to discuss your estate planning goals with a qualified attorney to make sure that your wishes are carried out.
My Office Can Help You Protect Your Adopted Children
If you have adopted children and need help incorporating them into your estate plan, we can help. At Sharline Green, P.C. we have extensive experience helping families with complex estate planning needs. Click here to Schedule a FREE Virtual Estate Planning Session and we’ll help you create a comprehensive plan that takes into account your unique circumstances.
When it comes to communicating with your children, always remember that actions speak louder than words. As a parent, it is important to lead by example and be the kind of person you want your child to become. If you are honest, patient, and kind, your child will likely follow your lead.