What about the kids?

Becoming a parent is a joyful and monumental moment in a person's life. You no longer think in the singular of how to care for yourself, but instead, how do I make the best choice for my child? When it comes to estate planning many parents have avoided this hard and necessary planning. Who gets custody of your children if you become incapacitated or die prior to your children reaching adulthood? The number of young parents that do not have a guardian in place is shockingly high because too often people begin to consider estate planning towards the end of their life, not when they are young new parents. Let's look at what guardianship is and then a prime example of how important it is to have in place.

What is guardianship?

A guardianship is a legal relationship established when someone is designated by the court or parent through estate planning to care for another person who is unable to take care of himself or herself due to age, incapacity, or disability. A guardian has the duty of ensuring that the child's particular requirements are met and that his or her estate is maintained properly.

On a deeper and more relevant level, a guardian is your child's stand-in-parent. This individual will have a deep and meaningful influence on your child's life. What values do you hope to pass on to your children? This person will be entrusted to ensure those hopes are honored. How would you want discipline handled? Do you want your children to value education or pursue college? What faith practices are important for your child to be exposed and encouraged to follow? There are numerous daily decisions that will influence and impact who your child will become. While no one can truly replace your role as parent, selecting a guardian that will raise your child closely to the way you aspire would bring you great peace and comfort.

Why is appointing a guardian in your will for minor children important?

If you do not appoint a guardian in your will and something happens to you, the court will decide who gets custody of your children. The court's decision may not be what you would have wanted, which is why it's so important to appoint a guardian in your will. If you have more than one child, the court may appoint a different guardian for each child.

It's also important to appoint a backup guardian in your will in case your first choice is unable or unwilling to serve. You should talk to your potential guardians about your wishes and make sure they are willing to serve before you appoint them in your will. You should also review your will and update it, if necessary, when your children reach adulthood or if your chosen guardian dies or is no longer able to serve.

Too often we live in the mindset of, "that could never happen to me" and fail to plan. Imagine going out for a date night and your kids joyfully greet the babysitter. You wave good-bye and assume that you will see them again in a few hours. By 10pm the babysitter begins to call your cell phone. You said you would be back around 9:30pm, but your phone just rings and goes to voicemail. You don't have any family in the area, but the sitter goes next door to speak with the neighbor. The neighbor knows your kids well and has visited many times, but unfortunately cannot provide any answers for your delayed return home. The babysitter and neighbor decide to notify the police. It's midnight now but the police have identified two car accident victims and arrived at your home. Your children are sleeping. The babysitter speaks with the officers learning of your death and the death of your spouse. Child custody is present to take possession of the children since both parents died. The babysitter and neighbor both offer to stay with the children, but there is no evidence that these individuals have a legal right or are a safe choice for the children. It's now 1am and child custody gently wakes the children to take them into state care until the next known living relative can be contacted. The only problem is the next living relative is three states away. The children remain in state custody for four days until a family member arrives to care for the children.

While heartbreaking, we often hear these stories and simply think that scenario could never happen. Unfortunately, in real life it does. On top of grieving the loss of parents the children are now placed without a voice to the next living relative. Is this who you would have wanted to raise your children if you could not? Are there family members who should never be granted custody of your children? Have you documented that?

We can't always control what happens in life, but we can plan for our loved ones to be protected and cared for in our absence.

Create your full estate plan today.

While appointing a guardian is an important part of estate planning, it's only one part. You should also have a plan in place for how your assets will be distributed and who will manage your finances if you become incapacitated or die.

If you don't have a will or estate plan in place, now is the time to create one. An experienced estate planning attorney at Hunkin Law can help you create a comprehensive plan that meets your unique needs and protects your children in case something happens to you. Take care of the things that matter most and schedule a meeting today at HunkinLaw.com