Everyone with children should have some sort of plan to ensure their children are cared for if tragedy strikes. One type of clause to consider in your estate plan is lovingly referred to as a “Dancing Lessons Clause.”
Often, estate plans provide for the care and enrichment of our children. We all want our children to be happy, even if we are not there to see it. We give their guardians freedom to allow our kids to live full and fun lives, filled with joy and learning. For example, guardians are often allowed to use funds so our kids can play little league, go to science camp, or take dancing lessons. This financial freedom allows our children to be taken care of as we would want them to be.
However, sometimes the guardian has children of their own. Their children welcome our children into their home and end up sharing their parents. A Dancing Lessons Clause is a way to help our children have full and rich childhoods while also acknowledging the gift of love, the gift of care, and the many sacrifices our chosen guardians (and their families) are making. A Dancing Lessons Clause provides some freedom for our chosen guardians to include their children in our children’s enrichment in the event that they cannot afford to provide the same for their children.
Think about adding a Dancing Lessons Clause to your estate plan so your kids will not be left dancing alone. Feel free to e-mail Jesse Hancox to schedule your consultation today.