How to Choose a Guardian for Yourself

Every day we make hundreds of decisions from what to eat for breakfast to where we go on vacation.  With each passing day, there are more choices to be made.  But, what will happen if you can’t make decisions for yourself?  Before that time comes, there is one important decision you need to make.  Who do you want to serve as your guardian? For those of you who have had your estate planning recently done or reviewed, you probably discussed and executed a Financial Power of Attorney.  For those of you on the fence about having your estate planning completed, [...]

Should Your Child’s Guardian and Trustee be the Same Person?

If you have overheard any discussion about estate planning, you have likely heard the words “guardian” or “trustee” tossed around in the conversation.  When it comes to estate planning, who will be ultimately in charge of your minor child is an important decision that requires consideration of many factors.  Although there is no substitute for you as a parent, a guardian is essentially someone who steps in as a parent, assuming the parental role and raising the child through adulthood.  A trustee, on the other hand, is in charge of managing the financial legacy that has been left behind for [...]

Five Considerations When Selecting a Guardian for Your Children

There is no question that having children changes everything — and estate planning is no exception.  If you and your spouse pass away or become legally incapacitated, and arrangements were never made in the event of such an emergency, your minor child or children will have to be placed with a new family.  Not surprisingly, such a drastic change can be a disruptive process for minor children — even if they are placed with members of your family.  If you choose a guardian for your child in your will or other estate plan documents this difficult time can go much [...]

By |2021-09-21T17:58:28+00:00August 23rd, 2018|Categories: Estate Planning, Guardianship|Tags: , , , |0 Comments

The Biggest Threats to Successful Estate Planning

Poor estate planning is a recipe for disaster.  Look no further than Dickens’ Bleak House — or a telenovela — to witness the tragedy and melodrama inadequate estate planning can cause.  While having your estate planning documents prepared is the first hurdle to overcoming these types of disasters, there are several threats that lurk around the corner that might derail your wishes. Family Conflict According to a TF Wealth survey of over 100 estate planning professionals, family conflict is the number one risk to a peaceful inheritance.  If children are treated differently under the estate plan, there is often an [...]

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