According to the United Nations Children’s Fund (UNICEF), an estimated 153 million children worldwide have been orphaned or abandoned by their parents. These children are often left without any means of support, and many struggles to access their inheritance when they come of age. However, fortunately, there are ways that nonprofits can help. Here are some examples.
The first step is to conduct outreach to identify abandoned children and their families. This can be done through community outreach programs, advertisements, or word-of-mouth. Once you have identified potential cases, reach out to the families to see if they need assistance.
For example, you can provide them with information about access to their inheritance or assist in completing necessary paperwork. Many abandoned children may not understand their legal rights and financial responsibilities. As a nonprofit, you can also help by providing financial literacy services.
This could involve teaching the basics of budgeting, saving money, or investing. These resources can be vital for adults who have never had access to financial education before.
Assist with the Application Process
If the family decides they want to pursue an inheritance claim, assist them with the application process. This includes helping them gather the necessary documentation and paperwork. The application process can be complicated, so it is crucial to have someone who is knowledgeable in assisting with it.
For instance, you can provide guidance in creating a will or connecting them with professionals to help with the process. You could also help by finding financial resources that may be available to families in need.
In addition to providing practical assistance, nonprofits need to offer emotional support to abandoned children and their families. It is often difficult for children to access their inheritance, and it can be a long and complicated process. Having someone there to provide emotional support is essential in helping them feel comfortable with the process.
Represent the Family in Court
In some cases, it may be necessary to represent the family in court. This is usually only required if there is a dispute over the inheritance. If you are representing the family in court, it is essential to have an experienced attorney in defending a will contest for inheritance cases.
For example, you can provide legal advice about the inheritance process or help to ensure that the family receives their rightful share. It is also important for nonprofits to keep up with any changes in inheritance laws so that the families you are representing have access to accurate information.
By providing these services, nonprofits can make a massive difference in helping abandoned children gain access to their inheritance. Not only does this help them secure a financial future for themselves and their families, but it also provides invaluable emotional support during difficult times.
Negotiate with Creditors
In some cases, creditors may attempt to seize the inheritance before the child receives it. If this happens, negotiate with the creditors on behalf of the child. Try to reach an agreement allowing the child to receive their inheritance without having it seized by creditors.
As a nonprofit, you can also provide guidance on debt management so that the family understands their options and responsibilities. This will help them make informed decisions about how to manage their debts.
In addition, you could also provide credit counseling services to help families rebuild their credit. This can involve creating a budget, setting up payment plans with creditors, or negotiating an agreement to pay off debts over time.
Distribute the Inheritance
Once all of the paperwork has been completed, and the inheritance has been awarded to the child, it is time to distribute it. Work with the family to decide how best to do this. In some cases, it may be best to put the inheritance into a trust fund or investment account for the child.
Other times, it may be necessary to use some of the inheritance to pay off debts or expenses incurred by the family during the legal process. In any case, the family needs to have a plan for how the inheritance will be used and managed.
Also, be sure to provide any necessary guidance on how to manage the inheritance. This can include advice on how to invest it or how to save and spend responsibly. You can even offer to provide ongoing financial guidance and assistance throughout the child’s life.
Many abandoned children around the world are struggling to get by without any help from their parents. However, there are ways that nonprofits can help these children get their inheritances. By conducting outreach, assisting with applications, representing families in court, negotiating with creditors, and distributing inheritances, nonprofits can make a difference in the lives of abandoned children worldwide.