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Many people delay working on an estate plan until they are older or feel established financially. However, if you have minor children, working on these issues now with a trusted estate planning attorney is critical. Otherwise, you have no control over who ends up raising your children.
Nobody wants to think about leaving their children orphans, but tragedies happen. You can help to address this situation by designating someone you trust to care for them in your will. You can also provide money for their care after your death if you have the means. Speak with a Riverhead guardian for minor children lawyer about ensuring your children’s care if the unthinkable happens. It is never too soon to protect your family.
A will does not just distribute your property after you die. When you have minor children, your will can name someone to be your children’s guardian. The guardian you name will care for the children if you and your co-parent both die or if your parent survives you but is not able to care for them.
A Riverhead attorney can talk you through how to decide who should be your children’s guardian. Once you have decided, you should have frank conversations with the people you choose to name as guardians about whether they can assume the responsibility.
It is important to name a secondary guardian who will step up if the person you name cannot carry out their responsibilities. You also should review your choice regularly to ensure that you are still confident the people you named are the best choice. Amending the will to change the guardian designations if necessary is simple.
If one parent dies, the surviving parent usually cares for the children. If both parents are dead or the surviving parent cannot care for the children, the children will be placed in the home of a guardian. According to the New York Surrogate’s Court Procedures § 1701, the Surrogate’s Court has authority over who will care for the children.
The process is relatively simple when the parents leave wills and both name the same guardian. The guardian applies to the Surrogate’s Court to be officially appointed with the legal authority to serve as the children’s guardian. This process typically includes a background check, but courts usually respect parents’ wishes if the investigation does not turn up concerning information.
As a Riverhead attorney could explain in more detail, when the parents do not leave a will naming a guardian, the children typically are placed with one of the children’s aunts or uncles, grandparents, an older sibling, or a family friend. When there are no close relatives nearby, the children might be placed in foster care. Family members and friends can apply to be the children’s permanent guardian. The judge will weigh the benefits and disadvantages of each applicant and decide according to what the judge believes is in the children’s best interests.
Parents should consider the children’s financial support when planning what will happen if they are not present to care for them. A Riverhead attorney could suggest options for a minor child that work with your family’s current financial position. Life insurance or a trust works well for most families.
Someone will need to handle the children’s money until adulthood. Parents can name a conservator in their will who will be responsible for managing the funds and using them for the children’s best interests. The conservator could be the same person as the guardian or someone else. The court will appoint someone if the parents do not name a conservator. In most cases, the children will have access to the funds when they turn 18.
If you are like most parents, nothing is more important to you than the well-being of your children. Work with a Riverhead guardian for minor children lawyer to ensure your children are raised by someone you trust to provide a loving home.
Do not leave your children’s futures to chance. Reach out today to schedule a meeting with a compassionate attorney from Tully Law Group, PC.
