No parent wants to anticipate passing away before their children are grown and capable to take care of themselves. However, it is an unfortunate reality that some individuals, whether due to illness or accidents, will die before their kids reach the age of majority. In situations such as this it is extremely important that a Warrendale parent has established a solid plan to appoint a guardian for their child.
Many individuals address child guardianship issues in their wills while they are doing their estate planning. A guardian is a person who not only will help see that the child’s day-to-day needs are met but who will also take care of the legal matters that may happen upon the child. Such matters may include but are not limited to managing the child’s inheritance wealth, applying for social benefits for the child if the child requires them, and initiating litigation on behalf of the minor child.
It can be difficult for a parent to select someone who will have to fulfill such an important role in the event of the parent’s passing. Often a parent will select someone who knows the child, such as a close family friend or relative with whom the child has a close relationship. The selection of a guardian for one’s child is personal and may differ based on the needs and interests of the child involved.
Protecting one’s wealth is often a priority when it comes to setting up an estate plan. However, appointing a guardian for one’s children can be an even more important task to accomplish in the event that the parent passes away during the children’s youth. To learn more about guardianship and other estate planning matters, readers may want to talk with their estate planning attorneys.