Life can take unexpected turns. Sudden illness or severe accidents can affect our ability to make decisions for ourselves or our loved ones. If you are a parent, it’s crucial to plan for your children’s care in case you’re unable to provide it yourself. Without proper planning, the court may have to decide who will care for your children, which may not align with your wishes. By understanding and establishing appropriate guardianship arrangements, you can ensure that people you trust will care for your children in a manner you approve of.
Testamentary guardianship
Testamentary guardianship is the most common type in estate planning. It allows you to nominate a guardian for your minor children in your will. This guardian would care for your children if both you and your co-parent pass away before the children reach adulthood. Take note that this type of guardianship only takes effect after both parents’ deaths. You can also change it by updating your will.
Standby guardianship
Standby guardianship is particularly useful for single parents or those with chronic health conditions. It allows you to designate someone to care for your children if you become seriously ill or incapacitated, not just in case of death. This type of guardianship also becomes effective upon your incapacity or death, providing a smooth transition of care for your children.
Temporary guardianship
While not typically a focus in estate planning, temporary guardianship can be a useful tool to discuss with your attorney. It allows you to delegate your parental power to another person for a certain period of time. It’s important to consider if you have upcoming extended work assignments abroad or need long-term medical treatment. Temporary guardianship provides flexibility for short-term care arrangements without permanently altering your parental rights.
Protect your children’s future by planning today
By planning ahead, you’re taking a major step in protecting your children’s future and ensuring their well-being, no matter what life may bring. Talk to an attorney today to discuss which guardianship options best suit your family’s needs.