Parents typically have just about anything but free time on their hands. This may be even more true for single parents in New Jersey. While it's understandable that some single parents feel as though they don't have a spare second to consider what might occur should anything happen to them, it's actually critically important that they give this considerable thought. When an individual is the only parent a child knows, even a simple estate plan can help protect his or her future.
Perhaps the most simple document that a parent can execute is a will. With a will, an estate will be distributed according to the terms outlined within the document. Without a will, who gets what will be up to the state, and it's possible that a child may not come out on top. Within a will, a parent can also name a legal guardian for a child in the event that the worst should happen. This person can be different than the one chosen to handle a child's inheritance.