Estate Planning: Young Families Series Part 1

A common misconception is that estate planning is only for older retirees that have accumulated wealth over many years. While retirees need estate planning, young families do too. To provide an overview for young families for why estate planning is essential, AWK Legal has created this series to explain how a few simple steps can provide you peace of mind and assure that your family is taken care of when you pass. In this series, Part 1 addresses nominating a guardian in a will for minor children.
 
A discussion that many parents have, and should have, is who will take care of their children if both parents are no longer around. This is not an easy decision and there are a number of factors that all parents need to consider when naming a guardian; such as, where does the potential guardian live? Will they raise the child with similar religious and moral beliefs and convictions as us? What is their financial situation? What is their lifestyle? Are they willing to take on this role?
 
Once the parents have deliberated on these points, the hard part is over. The next simple step is to nominate this person in their wills. If both parents unexpectedly pass, guardianship proceedings will take place in probate court. During the proceedings, the probate court will give priority to the person nominated to serve as the guardian. Ultimately the probate court has the final say on the appointment and will examine the best interests of the children, but this individual will have priority and can help alleviate family disputes because the parents have articulated who they desire to care for the children. For further information of nominating a guardian in your will, contact Jesse Bowman at the law office of Alexander, Wagner & Kinman (513-228-1100).

This information is intended to provide broad, general information about the law and is not intended to be legal advice. Before applying this information to a specific legal problem, readers are urged to seek advice from a licensed attorney.