How to Establish the Guardianship of a Minor Child in a Will
You’ve probably done many things to provide for your children’s future like saving money for their education. But planning your children’s future isn’t complete until you’ve established guardianship in your will. Although you’re planning to raise your children, certain circumstances may prevent you and/ or your spouse from completing your plans. Establishing guardianship involves picking guardians and naming them in your will. A guardian takes your place, acting as a parent to your children after you die or are unable to care for them.
Instructions
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Decide who should be the guardian. Talk with the individuals you want to raise your children.
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Compose a will. You can use software to make a legally binding will or consult a legal book. You can also hire an attorney. In the will, name your beneficiaries and what property they inherit.
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Appoint a guardian. Provide the name of the guardian and an alternate guardian. You need a second choice in case the guardian you pick isn’t available or dies before you do.
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Name a trustee. A trustee, also called a custodian, oversees the financial side of the guardianship. The person decides how your children’s inheritance is spent until they receive the money. You can name the same person trustee and guardian.
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Name an executor of your will. An executor, or personal representative, handles the short-term job of completing the probate process for your estate. The representative doesn’t handle the care for your children unless you name the executor the guardian, too.
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Include a letter of explanation. Write a letter of explanation letting the judge know the reasons for your choice in a guardian.
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Tips & Warnings
If you want your children to stay together, name one guardian for all. You can, however, appoint different guardians for different children. You may want to place a child who has a strong bond with an uncle in his care and another child with someone else. If you choose multiple guardians, specify which child goes with which guardian.
You don’t have to name different guardians to care for your children and handle the finances. You may however, choose different guardians if one person is better at finances and the other at raising children. For example, you may choose your mother to raise the children, but your cousin – a financial guru – to oversee the money.
You and your spouse should name the same person as the guardian in your separate wills. If you don’t, a court battle could ensure in probate court about who receives guardianship.
Although you have a will and establish guardianship, it doesn’t become legal until a judge grants the request in the will.
References
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