Choosing a Guardian #5 – Consult Legal Counsel Immediately!

Choosing a Guardian for Your Minor Children

Step 5 – seek professional legal help immediately!

Recent studies show that up to 66% of Americans die without a valid will or trust.

However, roughly 100% of Americans mean to get around to it someday.

In choosing a Guardian, as with all Estate Planning, procrastination is by far your greatest enemy.  Everyone thinks they will live well into their children’s adulthood. However, statistics prove that this is not always true.

If 66% of parents die without completing their Will or Trust, then this means that the vast majority of Guardianship proceedings take place without any input from the deceased parents.

Without having your Guardianship decisions in a legally valid format, the Judge will appoint a Guardian for your children without considering any of your wishes or beliefs.

We realize that choosing a Guardian for your Children is one of the most difficult decisions you will have to make.  However, you do not have to make them alone.

If you would like ideas on how to nominate the best Guardian for your Children, we invite you to consult with a Guardianship Attorney at Ainer & Fraker.  We have helped hundreds of families choose the right Guardian for their children.

We know we can help your family as well.

Choosing a Guardian #4 – Ensure All Fiduciaries will Work Together

Choosing a Guardian for Your Minor Children

Step 4 – Ensure All Fiduciaries work together for the benefit of your child

One of the most critical, but often overlooked factors in Choosing a Guardian, is to make sure the people in charge of your Child (Guardian) and their Trustees or other Fiduciaries are able to work together seamlessly for the benefit of your children.

If you have chosen different people to serve as the Guardian of the Person and Guardian of the Estate of your child, this is critical.

It is equally critical if you have chosen a corporate or professional Trustee to manage the financial affairs of the child’s Trust.

The person who raises your children must have easy access to the money that you have provided for your child’s welfare and upbringing. There can be no conflicting agendas that slow down or hinder this process.

If there is a family conflict that would make this difficult, you may need to re-think who will serve as Guardian and Trustee.  Choosing different family members (or different sides of the family) to serve in these roles can be a recipe for disaster if not done properly.

Sometimes it is wise to use a professional trustee, such as a bank trust department, to handle the finances, especially if the Guardian would be overwhelmed with managing the financial aspects of the Child’s estate.

If you would like ideas on how to ensure that your Child’s Guardian and Trustee work together seamlessly, we invite you to consult with a Guardianship Attorney at Ainer & Fraker.  We have helped hundreds of families choose the right Guardian for their children.

We know we can help your family as well.

Related Posts:

  1. Communicate with Your Spouse
  2. Communicate with the intended Guardian
  3. Ensure that your child’s estate is adequately funded
  4. Ensure that the Guardian of the child’s person is able to work closely with the Guardian of their estate

Choosing a Guardian #3 – Ensure Your Child’s Estate is Adequately Funded

Choosing a Guardian for Your Minor Children

Step 3 – Ensure Your Child’s estate is adequately funded

Another critical step in Nominating a Guardian for your Children is to make sure there is enough money in your Child’s Living Trust to see them through to adulthood.

Asking another person, even a family member, to raise your children in your absence is a serious emotional and financial decision.

Not leaving them sufficient assets to raise your children, will cause a financial loss to their own family, as they will need to make up the shortfall.

It is your responsibility to make sure your children are fully provided for.

Set up a Living Trust to manage their inheritance.  If your assets alone are not sufficient, then purchase a life insurance policy or annuity so that your child will enjoy the best standard of living until they are an adult.

Communicate your financial situation clearly to the potential Guardian, and ensure that they are willing and able to handle the commitment.

If you would like ideas on how to make sure your Child’s Estate is adequately funded, we invite you to consult with a Guardianship Attorney at Ainer & Fraker.  We have helped hundreds of families choose the right Guardian for their children.

We know we can help your family as well.

 

Related Posts:

  1. Communicate with Your Spouse
  2. Communicate with the intended Guardian
  3. Ensure that your child’s estate is adequately funded
  4. Ensure that the Guardian of the child’s person is able to work closely with the Guardian of their estate
  5. Seek professional legal help immediately!

Choosing a Guardian #2 – Communicate with Your Intended Guardian

Choosing a Guardian for Your Minor Children

Step 2 – Communicating with your intended guardian

In choosing a Guardian for your Children, it is critical to discuss your decisions with your intended Guardian.

Again, this may seem obvious.  However, you may be astounded to find that some nominated Guardians have no idea that they had been chosen until the parents are deceased.

This is far too critical a decision to spring on someone at the last minute.

Keep in mind, no one can be forced to be a Guardian against their will.  Just because they are Nominated by you, doesn’t mean they have to accept their Nomination.

Open and honest communication with your intended Guardian will increase the likelihood that they will agree to serve; or it will allow you to choose the best alternate Guardian if they choose not to serve.

After you have decided on a candidate, discuss it with him or her as early as possible.  Explain to them that you have taken all the necessary steps to make sure your Estate Plan is in order, and that there will be adequate financial resources to take care of your children through the age of 18.

If you would like ideas on how to bring up this topic to your intended Guardian, we invite you to consult with a Guardianship Attorney at Ainer & Fraker.  We have helped hundreds of families choose the right Guardian for their children.

We know we can help your family as well.

Related Posts:

  1. Communicate with Your Spouse
  2. Communicate with the intended Guardian
  3. Ensure that your child’s estate is adequately funded
  4. Ensure that the Guardian of the child’s person is able to work closely with the Guardian of their estate
  5. Seek professional legal help immediately!

Choosing a Guardian #1 – Communicate with Your Spouse

Choosing a Guardian for Your Minor Children

Step 1 – Communicating with Your Spouse

This may seem obvious at first, but it can take longer than you expect to arrive at a mutually agreeable decision. It’s easier to decide how to distribute the financial and real property assets of your estate than it is to select a Guardian.

Take as much time as you need to discuss this decision openly with your spouse so that you are happy with your choice.

If you are having difficulty agreeing on the right Guardian, we invite you to consult with a Guardianship Attorney at Ainer & Fraker to talk through your options.  We have helped hundreds of families come to the very best decisions on the right Guardian for their children.

We know we can help your family as well.

Related Posts

  1. Communicate with Your Spouse
  2. Communicate with the intended Guardian
  3. Ensure that your child’s estate is adequately funded
  4. Ensure that the Guardian of the child’s person is able to work closely with the Guardian of their estate
  5. Seek professional legal help immediately!
[TS_VCSC_Posts_Image_Grid_Standalone limit_posts=”true” limit_term=”401k,aca,advance-health-care-directive,affordable-care-act,afpan-podcast,alameda-county-probate-court,areas-of-practice,asset-protection,assets-subject-to-probate,autism,avoiding-probate,bay-area-tax-attorney,bay-area-tax-lawyer,biography,business-law-2,business-tax-strategies,buy-sell-agreement,buying-a-business,c-corporation,california-petition-to-determine-succession-to-real-property,california-small-estate-procedure,capital-gains,capital-losses,charitable-giving,charitable-lead-trust,charitable-remainder-trust,charity,child-and-dependent-care-credit,children-with-special-needs,corporate-formalities,corporate-trustee,down-syndrome,durable-power-of-attorney,ea,employee-stock-ownership-plan,employees-withholding-allowance-certificate,enrolled-agent,esop,estate-administration,estate-planning,estate-tax-planning,exit-strategies-for-business,family-member-trustee,family-philanthropy-2,family-philanthropy-articles,fbar,flip-crt,flip-crut,for-business,foreign-bank-and-financial-accounts,form-1040,form-td-f-90-22-1,friendly-reminders,funding-your-trust,guardianship,guardianship-forms,guardianship-of-a-minor,health-care,ieps,incorporation,individual-retirement-account,individualized-education-program,inheritance,international-tax,international-tax-cpa,international-tax-law-firm,international-tax-lawyers,international-tax-prep,international-tax-preparation,intl-tax,ira-tax-planning,irrevocable-life-insurance-trust,irs-attorney,irs-form-8938,irs-tax-help,last-will-and-testament,life-insurance,limited-liability-company,living-trust,living-will,mandatory-health-insurance,medi-cal,medicaid,medicare,medicare-surtax,oakland-estate-planning-attorneys,oakland-estate-planning-lawyers,oakland-guardianship-attorneys,oakland-nonprofit-attorneys,oakland-nonprofit-lawyers,oakland-probate-lawyer,oakland-special-needs-trust-attorney,oakland-special-needs-trust-lawyer,oakland-tax-attorney,oakland-tax-lawyer,oakland-tax-preparation,obamacare,palo-alto-probate-attorney,parents-helping-parents,planned-giving,planned-giving-attorney,planned-giving-lawyer,probate,probate-articles,probate-court,probate-litigation,professional-corporation,professional-fiduciary,professional-fiduciary-association-of-california,required-minimum-distributions,retirement-planning,s-corporation,san-francisco-probate-court,san-francisco-probate-lawyer,san-jose-estate-planning-attorney,san-jose-guardianship-attorneys,san-jose-probate-attorney,san-jose-special-needs-trust-attorney,san-jose-special-needs-trust-lawyer,san-jose-tax-attorney,san-jose-tax-lawyer,san-jose-tax-preparation,san-mateo-county-probate-attorney,san-mateo-county-probate-court,santa-clara-county-probate-court,saratoga-estate-planning-attorney,saratoga-estate-planning-lawyers,saratoga-guardianship-attorneys,saratoga-probate-attorney,saratoga-special-needs-trust-attorney,saratoga-special-needs-trust-lawyer,saratoga-tax-attorney,saratoga-tax-lawyer,selling-a-business,selling-your-business,small-business-health-care-tax-credit,small-business-law,solo-401k,special-education,special-needs-attorney,special-needs-child,special-needs-lawyer,special-needs-trust,statement-of-specified-foreign-financial-assets,subchapter-s-corporation,succession-planning,successor-trustee,tax-central,tax-manager,tax-planning,tax-prep,tax-withholding,taxes,trust-administration,trustee,type-iii-supporting-organization,unearned-income-medicare-contribution-tax,vacation-home-rental-rules,will-contest,wills,www-pfac-pro-org” posts_limit=”6″ data_grid_machine=”freewall” data_grid_width=”200″ fullwidth=”true” filters_show=”false” el_file1=”” el_file2=””]

Nominate a Guardian for Your Child in 5 Easy Steps

As Guardianship Attorneys we at Ainer & Fraker, LLP have helped families navigate the challenging process of selecting the right Guardian for their minor children.

The most important rule is to nominate your Guardian in a legally valid format, such as your Last Will and Testament.

It is critical that your Last Will and Testament be coordinated with your other estate-planning documents such as a living trust, life insurance, annuities, etc.

Here are some important steps you should consider when planning for your children’s Guardianship.

To explore each of them in detail, please click on the link below to go to the article on each topic.

  1. Communicate with Your Spouse
  2. Communicate with the intended Guardian
  3. Ensure that your child’s estate is adequately funded
  4. Ensure that the Guardian of the child’s person is able to work closely with the Guardian of their estate
  5. Seek professional legal help immediately!