Guardianship

Wednesday, April 20, 2011

NEET Tips

NEET Tips answers questions posed by visitors to the NEET website

Is the guardian of a ward the ward’s executor after the ward dies?

Guardians and executors are two distinct roles, and while the guardian may become the executor, the Probate Court will address the issue of who should be the ward’s executor independently of who was previously named as guardian.

Tuesday, February 15, 2011

NEET Tips

NEET Tips answers questions posed online to the NEET website

What are some tips for selecting a Guardian for my children?

When selecting a guardian for your children, one overriding concern is to reduce the children’s stress as much as possible. With this in mind, consider a family member with a close relationship to your children so that the transition is more predictable, or a guardian that lives near your home. Consider what changes the guardian will have to make in their own lifestyle to accommodate your children. You don’t want to cause upheaval in the guardian’s household because this causes stress that might be released in unexpected ways. For instance, you should consider a guardian who has similar-aged children of their own or someone who is economically independent so that your children will not be a financial burden. Consider a guardian who shares your core beliefs, such as religious and moral values, your philosophy on education, discipline and upbringing, even your politics. It is usually best to avoid naming a couple; instead name the husband or wife so that if the couple later separates or divorces, there will not be any dispute as to who remains the legal guardian.  

Also, a good rule of thumb for nearly all positions in estate planning is to name at least one backup, or alternate, in case the first person named is unable or unwilling to take on the responsibility. To avoid selecting someone who would prefer not to accept this responsibility, talk to the prospective guardian first to gauge their willingness and to share your hopes for your children.  Finally, be prepared to re-evaluate your choice every 3-5 years to ensure that your existing selection remains the best available choice in light of changing circumstances.

For more information on selecting a guardian for your children, see the NEET article:

Tips on Selecting a Guardian for Your Minor Children

Monday, January 31, 2011

NEET Tips

NEET Tips answers questions posed online to the NEET website

What powers does a guardian have?

The answer depends on the Probate Judge who appointed the guardianship. The Probate Judge usually designates specific powers to the guardian in regard to the ward. Aside from the specific powers, guardians must promote and protect the best interests of the ward, and ensure that the ward receives the benefits and services that the ward is entitled to. Common benefits and services include education for wards of school age, residential services for wards who lack adequate housing, nutritional services, medical and dental services, and therapeutic and habilitative services, such as adult education and vocational rehabilitation.

Friday, October 02, 2009

Press Coverage of Estate Planning This Week (October 2, 2009)

Janet Taylor of Auburnpub.com (Auburn, NY) writes on ways to discuss finances and estate planning with your parents, with some tips on how to start the conversation.  See Tips for That Difficult Talk (Sept. 29, 2009).

Laura Casey of the Contra Costa Times discusses the importance of naming a guardian for your children, with some tips on how to choose the right person.  See Choosing a Guardian for the Children Is a Difficult But Necessary Task (Sept. 30, 2009).

Dan Peare, Esq., writes in the Wichita Eagle that relatively low asset values, low interest rates and an anticipated rise in estate taxes makes this a good time to make gifts to the next generation.  See Now’s the Time to Think About Sharing Wealth (Oct. 1, 2009).

Kent Sepkowitz writes in Newsweek that dying at home is not as easy as it sounds for the survivors.  As a doctor, he still favors it, but you should plan to get the police involved (to record that no foul play occurred), have a doctor come by (to record that the person is indeed dead), and select an undertaker.  See Dignity in Dying (Sept. 26, 2009).

Tuesday, September 08, 2009

Estate Planning Tip of the Week

Does a Person in Their 20s or 30s Need Estate Planning?

There are levels of estate planning applicable to every age.  While many people in their 20s and 30s do not need an elaborate estate plan, they should complete a few basic documents.  The most important documents for this age focus on planning for accidents or illness, and include an Advance Directive for Health Care, which allows someone to make medical decisions on your behalf and provides guidance as to the types of medical care you want and don't want; a General Durable Power of Attorney for Finances, which allows someone to make financial decisions for you; and a HIPAA Release, which allows hospitals and medical institutions to release your medical information to family members or others.  Additionally, if you have a family of your own, a basic will is advised so that you can name who would raise your children in the event you and your spouse were severely injured or killed. 

Planning doesn't have to be complicated, but life tends to get very complicated when no planning is involved.

For more information on planning for young people, see Misconceptions About Estate Planning on the Articles Page.

Friday, July 24, 2009

Press Coverage of Estate Planning This Week (July 24, 2009)

John Eligon of the New York Times recounts that estate plan amendments late in life often lead to bitter fueds due to questions of capacity and overbearing caregivers, among others.  See Battle Over Estates, Small or Astor-Size, Can Be Bitter (July 20, 2009).

Andrea Coombes of the Wall Street Journal discusses the troubles that arise in trying to access a decedent's online accounts, and suggests ways to safely share online access information so that it's available to your survivors after you die.  See You Need an Online Estate Plan (July 19, 2009).

Eileen Ambrose of Tribune Media Services reviews the benefits of having a will, naming a guardian, and picking a sensible executor.  See When There Is a Will, Things Are More Likely To Go Your Way (July 19, 2009).

Candice Choi of the Associated Press offers tips on three issues related to children and estate planning: guardianship, inheritance and trusts.  See Safeguards Vital for Kids After Parents Are Gone (July 21, 2009).

Rick Bloom writes in Hometownlife.com about the benefits of living trusts, even for small estates.  See Living Trust Great Vehicle, No Matter Estate Size (July 23, 2009).

Friday, July 10, 2009

Press Coverage of Estate Planning This Week (July 10, 2009)

Kevin Bourke writes in the Santa Barbara (Calif.) Independent that failure to update your beneficiary designations on financial accounts such as IRAs can lead to surprise endings, like long-divorced ex-wives receiving sizable retirement plans while the children get nothing.  See Accidentally Disinherited (July 7, 2009).

Harriet Johnson Brackey of the South Florida Sun-Sentinal discusses arranging for guardianship of minor children in complex family arrangements, as well as providing some tips to strengthen the chances a court will abide by your wishes.  See Got a Will?  Better Make Sure Who Gets the Kids (July 10, 2009).

Jane Bennet Clark of Kiplinger's Magazine contends Michael Jackson had his estate plan in order, at least more so than most Americans.  She offers some general advice on what should be included in an estate plan.  See 4 Estate-Planning Lessons From Michael Jackson (July 2009).

Karin Grablin writes in the Bradenton (Fla.) Herald that soon after divorce it is important to review your estate and financial planning.  Issues include planning for blended families if you remarry, and guardianship of minor children, among others.  See Make Estate and Financial Planning First Step After Divorce (July 7, 2009).

Candice Choi of BusinessWeek provides a brief overview of the differences between wills and trusts, and some of the advantages of choosing one over the other.  See Will or Trust? Understanding the Differences (July 3, 2009).

Sarah Arnquist of the New York Times discusses planning for funeral arrangements and the options available to avoid the expense of a full-fledged funeral, including cremation and home funerals.  See The Caregiver's Last Expense (July 8, 2009).