Your choice of guardian for minor children matters, and it is essential to put your choice in writing. Life is unpredictable, and having a comprehensive plan in place can help in a crisis.
Why Your Choice of Guardian Must Be Memorialized – A True Story
In July 2006, the Barber family was in a car accident. Melanie and Casey, the loving parents of three little boys, ages 3, 6, and 9, died. They had nothing in place to name guardians for their children or take care of their assets, though family members and friends say they talked about doing it. Melanie and Casey had many loving family members and felt confident they would have been able to work out who would care for the boys and their money, with love and grace. That’s not what happened.
After the accident, the boys were initially placed in the foster care system. Since then, over 1,000 pages of court records have been filed, there have been nine lawyers involved, tens (or hundreds) of thousands of dollars spent, and many, many tears, shed. One year later the family was ordered to mediate their disagreements and an agreement was reached. The boys’ money will be managed by a professional financial guardian who charges $100/hour. A lawyer was appointed on behalf of the boys to the tune of nearly $25,000 already. Whatever is left will be distributed to the boys when they turn 18. Until then, after hideous allegations made on both sides, the boys will live with their aunt.
We’ll never know exactly what Melanie and Casey would have wanted for their children, but we can be sure they would have done everything they could to avoid what has happened. If only they knew how easy it is to take the proper precautions.
How to Memorialize
One of the core documents of a comprehensive estate plan is a last will and testament. If you have minor children, your will should include a provision nominating your choice of guardian for minor children, as well as alternates. This allows you to pick who you want, and not simply leave it up to whoever comes forward after the fact.
Keep in mind the final decision is always made by a judge in the best interests of the minor child, but your choice of guardian is given significant weight by the court. Further, by having discussions with family members as part of your plan, you can make it clear who your choice is, and hopefully make it less likely anyone will oppose the choice.
A parent can also have a document called a designation of standby guardian in place, where a parent can choose a guardian who can temporarily step in if the parent becomes incapacitated or dies, for up to 60 days. This can be extremely important in a sudden crisis or accident.
Your choice of guardian matters, and it is essential to take the time to properly document your choice to avoid conflict, disorder, and tragedy. The estate planning attorneys at Kurre Schneps can help you put together a comprehensive estate plan including memorializing your choice of guardian. Contact us today.
