Whether we create a Will or a Trust for our clients, I always walk away feeling that my good deed for the day was definitely accomplished.? The funny thing in all this is most of our clients do not ?feel? any difference when they walk out of our office; until the day they call upon their Trust for assistance.? This is when everyone involved realizes the importance of having your legal affairs in order.? All this brings me to discuss legal guardianship this week, whether you?re a parent, uncle or aunt, we can all benefit from proper legal guardianship nomination.
Careful planning for children?s futures after the death of parents can ensure that they will be cared for in your absence, and that they be raised with the proper values and provided for financially.? Parents can nominate legal guardians not only in case of death, but also due to incapacity.? In time of crisis, the last thing you would want is for Child Protective Services to step in and take your children away from their home.? If you did not nominate an adult with proper supervision (so not simply a babysitter), CPS would have no choice but to put them in a foster home until the courts ruled on your behalf.? Do not let such a simple legal document stand in the way of properly safeguarding your children?s safety.? When thinking about nominating a legal guardian, 70% of parents make 6 common mistakes in their nomination.? Since this article is too short to cover these mistakes in any great length, please feel free to go onto our website, www.apelcenter.com, and get our free report detailing the 6 mistakes and how to easily avoid them.??
Should you fail to take any of the appropriate steps to make sure this legal document is in place,? a court would have no choice but to select a Guardian to care for your children and manage their inheritance until they become adults. The best place to appoint a legal guardian is within your Revocable Living Trust.? Many advisors would recommend doing so within a Will, but this stand-alone document is so stripped of legal necessities I have rarely advised my clients choosing that route.?
Having the proper legal documentation provides a smooth transition to a new caregiver and a new home. It permits the children and parents to choose where the children will live, and prevents the children from unnecessarily entering the foster care system and maybe even being split up. It provides the parents with peace of mind to know that, should something happen to them, their children will be well cared for by the individual they so choose.
Planning the children?s custody after death is something that should be carefully thought out. Here are a few questions and pointers for you to keep in mind when making that decision:? Who will raise the children in the absence of the parents and impart upon them the values, which are important to the parents? Who will be willing or, in case, the estate of the parents is minimal, financially able to do so? Careful consideration should be given to choosing a potential guardian for the children.
Parents can appoint a single guardian or joint guardians to act at the same time. If the parents choose a single guardian, it is often useful to indicate an alternate guardian just in case the first guardian chosen predeceases or is later unable or unwilling to act in that capacity. Before designating a guardian or guardians, discuss with those individuals and discuss the matter to verify they are willing to act in that capacity.
Guardianship appointment is not strictly binding on the court, unless there is an appropriate legal challenge, the court will normally approve guardian(s) as stated in a Will or Trust, provided there is not a surviving parent. If there is a surviving parent, that parent will have automatic guardianship of the children.
Hopefully I have convinced you to properly nominate a legal guardian, as I do consider this the bare minimum necessary to do right by your children.??
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Source: http://www.apelcenter.com/blog/index.php/2012/02/creating-a-will-to-appoint-guardianship/
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