On this episode of the podcast, lawyer Shannon McNulty shares about estate planning for international families. An estate plan helps clarify and confirm, if something happens to you, who will take care of your kids, your money, and the decision-making that goes with these two critical areas. International families will want to make sure that their estate plans are in order.
Work with an Expert
In general, an estate plan has elements that you can DIY, but if you’re an international family, for example, you came to the U.S. as an immigrant, or are a naturalized citizen, then your estate plans become more complicated. It’s important to work with someone who specializes in this area of planning and law, and is familiar with the country that you have connections with.
Make Sure There’s a Plan for Guardianship
Who will care for your kids is one of the most critical areas of an estate plan for parents. Establishing not only the legal guardian, but a temporary or stand-by guardian is the bare minimum we would want international families to have in place. In cases where a parent passes away or is incapacitated and there are no gaurdianship documents, for inernational families especially, the worst-case scenario can be dire. So, we strongly encourage you to get your estate plans in order.
Resources mentioned
Establishing guardianship is a must: check out our episode
Learn more about a healthcare proxy
Here’s what you need to know about power of attorney
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