Estate Planning is the process of working with an attorney to create a legally binding plan for what will happen to your property and belongings (known as your estate) and your remaining money (known as your assets) after you pass away. Since Estate Planning is commonly accomplished through methods like Wills and Trusts, people tend to think about it in financial terms. Today, however, we are going to focus on a less well-known aspect of Estate Planning: selecting a potential guardian for children or for adults.
Child Guardianship
If you create an Estate Plan, you can elect a guardian who you would like to raise your minor aged children if something unexpected were to happen to you. If you do not do this in an Estate Plan, it will be determined by the state you live in through an often long and tedious process. On top of that, you will have no say in it whatsoever. Creating an Estate Plan is the only way to have your choice of who will raise your children in the event of an emergency - and we’re guessing you want to make that choice.
As with most of Estate Planning, your guardianship selection can be as straightforward or as complicated as you would like. You can select multiple guardians if your first choice is unavailable. You can include instructions and values for how you would like your children to be raised. You can even separate the guardian role into guardians who will raise your children and guardians who will handle the financial aspects of their estate. This is ideal if you have loved ones who are great with children and loved ones who are great with money.
More Types of Guardianship
- Emergency Guardianship - If a child faces an emergency where no one can take care of them, and their legal guardians did not specify a guardian for them in their Estate Plan, a temporary guardian will be appointed while the emergency is resolved.
- Temporary Guardianship - If someone’s normal guardian or caretaker is sick or unavailable, a temporary guardian may be appointed to fill the role until they return.
- Adult Guardianship - If an adult has special needs and cannot take care of themselves on a day-to-day basis, they will have a guardian appointed whose legal responsibility is to take care of them and make decisions that affect them.
- Elderly Guardianship - If an adult needs help taking care of their medical or financial decisions, or even someone to physically take care of them on a daily basis, they may be appointed a guardian.
- Permanent Guardianship - When the court grants someone full custody forever of someone else, they become their permanent guardian. This extends past when the party involved turns eighteen - it lasts their entire life. Permanent guardianship is only granted in very specific circumstances, and it is very difficult to change.
Discuss Your Options Today
Whether you want to elect potential guardians for your children, make yourself the guardian of a loved one with special needs, take care of an elder loved one, or elect someone who can take care of you in your old age, Miller Law Firm PC can help. Estate Planning does a lot more than just handle your money - it ensures your family is taken care of. For help with any guardianship issues, contact Miller Law Firm PC today! We help you meet your goals!
