You have a lot on your mind when you're expecting a child. Baby names, nursery décor, and car seat installation are most likely in your thoughts. However, there are other essential considerations, such as creating a last will and testament.
In certain uncomplicated circumstances, low-cost do-it-yourself (D.I.Y.) wills, living wills, and powers of attorney are attainable and may be found on our partner site, FindLaw.com. Estate law differs by state, and estate planning issues may become difficult. You should also seek advice from an estate planning attorney about your situation.
Now is the time to make plans
It may be tough to consider writing a will at such a happy moment for your family. However, planning for your child's future is essential to being a parent.
While most parents survive long enough to provide for and raise their children, a tiny fraction do not, owing to a tragic disease or accident.
Creating a legitimate will and testament is the best approach to care for your kid in such a disaster. Each parent should have his or her own free choice. If you are married or share custody of your children while they are still alive, the surviving parent will usually receive custody of the children if one of you dies, regardless of the provisions in your will.
If both parents die or the single custodial parent dies, the guardian appointed in the will becomes the children's legal caretaker. As a parent, you must ensure that your choice includes a:
Personal guardian(s) for your children: The most crucial aspect of a parent's will is naming a guardian(s) for their children. The guardian will be in charge of your child's day-to-day care and legally responsible for him or her. Most parents choose someone they know well.
Your children's financial guardian(s): This might be the same person as the personal guardian, but it doesn't have to be. A financial guardian will manage and distribute your child's assets until he or she reaches the age of majority.
Your assets should be distributed clearly: If you wish to leave certain items, such as jewels, collectibles, letters, or real estate, to a specific kid or another person, you may do so in your will. Suppose an asset is not explicitly identified as going to a particular recipient. In that case, it will be included in all your purchases and distributed based on the parameters you have set.
If you do not have a lawfully drafted will, the state will decide who has custody of your children and how your assets are distributed. These issues are governed by state legislation known as "intestate laws."
If you have children, for example, your surviving spouse may only receive a percentage of your estate in many states. If your parents outlive you, they are entitled to a share of your estate in certain areas. For these reasons, you must create a will to safeguard your kid. It makes no difference if you have little property to leave or if the state would appoint the same guardian you would. Circumstances might change when you least expect them to, and your determination can protect your children in the manner you want them to be protected.
Making a Guardianship Decision for Your Children
Are you, like many parents, overwhelmed by the prospect of naming a guardian for your children? If anything were to happen to you, choosing a guardian would be your most crucial decision for your children. The guardian will be in charge of your children's day-to-day care. The guardian will accompany the children to doctor's appointments, teacher conferences, and sporting events and advise them about their future. While it is preferable that you, as the children's parent, can do everything, you must choose the best person you can to handle everything if you cannot.
Estate law differs by state, and estate planning issues may become difficult. If you name a guardian in your will, you must ensure that the choice is executed correctly by your state's laws. In certain uncomplicated circumstances, low-cost do-it-yourself (D.I.Y.) wills, living wills, and powers of attorney are attainable and may be found on our partner site, FindLaw.com. You should also get guidance from an estate planning attorney in your region about your circumstances. An attorney will assist you in ensuring that your will is valid and that the person you wish to be your children's guardian is legally qualified.
How to Choose a Guardian for Your Child
There is no secret formula or one factor that determines who is the ideal guardian for your children. Each parent will have different priorities, and each potential guardian will have other characteristics, which will combine to allow a parent to choose a guardian for his or her children. Some items to consider while naming a guardian include a person's:
Consider if the individual's job and other hobbies can readily accommodate a kid or whether the person is ready to make the required changes.
Willingness to Raise Your Children: It is best to have an open discussion with the person you want to be the guardian of your children to determine if the person wants that responsibility and is willing to act as the guardian if the need arises.
Health and Other Responsibilities: Consider if the individual is in excellent health and physically capable of caring for children. Consider if the individual is responsible for other children and how your kid will fit in with the group.
Religion: Some people choose a guardian who shares the same religious beliefs as their children so that holidays and milestones can be celebrated together and values can be shared.
Priorities: Consider your children's preferences. Some parents, for example, prioritize education. Is the guardian you're thinking about sharing your preferences with?
How to Ensure That Your Guardian Appointment Is Legally Enforceable
Once you've decided on a guardian, you must memorialize your choice in a legally binding manner. The easiest method to achieve this aim is to name a guardian in your will. If your first chosen guardian is unable or unwilling to take on the role at the time of your death, both parents should determine an alternative guardian. This is especially crucial if your first chosen guardian is much older than you, unwell, or extremely near to you, increasing the likelihood of you getting in an accident together.