Do you have a plan? When you are a young single mother it’s hard to believe that their could come a time when you won’t be there for your child. No one wants to think about it but unfortunately it’s something you need to prepare for.
If your ex is a good parent and in a position to raise the kids should something happen to you, half the problem is solved. But what if he’s not? What if he has a drug or alcohol problem or is just generally unreliable? Then what?
Unfortunately this is something you will have to talk to him about. If you want someone else to raise your children if something happens to you, their other parent needs to be on board with that. Some people will realize that they are not the best choice for their children, my ex husband agreed with me that if something happened to me, my sister would finish raising Hailey, and I got it in writing and notarized.
If someone other than your ex spouse will be raising your children it’s important to have your financial house in order. You should have a life insurance policy that will go into a trust for the kids that their guardians can access to pay the costs of raising them.
A will is very important. If you own a home, stocks, jewelry or other valuable items you need to spell out exactly how you want them disposed of and where you want the money to go.
It’s a very generous offer when someone offers to raise your children if you can’t. It’s important to make sure that you do everything you can to take care of them financially if something should happen to you.
Also, if your children are very young, make a list of all the important things in your home that their guardian will need. Birth certificates, social security cards, immunization records, even the kids baby books and photos, you want those things to do where your children go.
It’s hard to think about these things as a young mother, but as a single mother you have to have a plan. Otherwise not only do your children lose you, they lose any sense of stability. A well thought out and documented plan will make it easier for your kids if something happens to you.
Don’t put it off, none of us are promised tomorrow.