National Bird Day: Planning for the Future of Your Feathered Friends
January 5, 2024
Mistake #2: Not Naming Guardians for the Short Term when setting protections for your children in your estate plan.
April 3, 2024
You have talked to all your family members about the estate plan you have for your kids. You have explained what your children like and their needs. You have given instructions related to your children protection planning and how you want your children and their inheritance protected. But none of it is in writing. Are your words enforceable? Not really.
First mistake parents make when naming guardians for their children in their Estate Plan is Not putting Guardian designations in Writing.
When you are well, if you send someone to pick up your kids in school, the school will not release them without a written authorization. So, do you think a judge is going to give your child custody to just someone that says that you told them they were your first of guardian (with no proof)? Possibly no.
Think for a moment in the following situation:
The one family member you do Not want raising your kids claims first to a judge that she is the one you promised would care for your kids? If the law allowed for just a statement, this person could just take over your kids without much effort. How would you feel about that?
Imagine another scenario. Both grandmothers want custody of the children and they both claim you told them they were your first choice? They may both be on the same footing in front of a court. But, are they on the same footing in front of your eyes?
So, putting your wishes in writing is an assurance for the well being of your kids.
Again, whatever you want, it must be put in writing!
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THIS POST IS PART OF A SERIES: Ten Top Mistakes Families with Children make in Most Estate Plans.
