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If you are the parent of adopted children or unadopted stepchildren, a personalized estate plan will Should both parents become incapacitated or pass away, an appointed guardian can take surviving minor Since no estate plan is alike, it is important for your personal wishes to be honored, and there is no

Your estate plan will also allow you to name a guardian for your minor children, should the unexpected will only covers property that can go through probate; this is the court process by which a deceased person

It disposes of important personal property, pays off his debts, names people who will execute the will , and names someone as guardian in case he and his wife die while their children are still minors. First: I will that all my just debts be paid out of my personal effects, as I think them sufficient, Ninth: I hereby appoint my dearly beloved wife, Margaret, Testamentary guardian of my children, their , the County, or other Court of Probate, have no further control over my Executors, or Testamentory Guardian

Add the person you want to inherit your assets as a joint owner. To avoid guardianship in the event you are incapacitated, you need: A valid statutory durable power of An estate plan can avoid this by appointing a guardian you and your spouse trust in advance. A Texas court will appoint a guardian to oversee the inheritance until that time.

amount of time, energy, and money by sorting out your estate ahead of time so you can avoid probate, guardianship Once you have an appointment scheduled, you should have a conversation with potential guardians, charities

courthouse,” the Legislature’s action follows newspaper reports of professional guardians who deplete The legislation creates an Office of Public and Professional Guardians and, for the first time, creates standard practices and rules for professional guardians. It also gives the new office strong enforcement power, which includes the ability to revoke a guardian There are many more of these professional guardians in the state.

News recently published an article, entitled “Estate Planning – It’s a Need,” that explained how one person might be a great choice for guardian, trustee, power of attorney or executor. What if a person named in the will needs to be removed later? We may live to see our children grow to be adults when they no longer need a guardian. Then again, about that time our parents will age and may need a guardian.

Qualified Personal Residence Trusts. A qualified personal residence trust will freeze the value of the property for gift-tax and estate-tax

Investment News’ recent article, “The most important part of a young person’s estate plan,” notes that When a child is younger than 18, parents and guardians are able to make medical decisions for them. Signing a POA lets a trusted person have a voice ahead of time. Also, a will is critical when a person becomes a parent. If both parents died, a court would have to determine a legal guardian for a child who is a minor.

to hold assets that can be used for the benefit of a loved one with special needs without making the person Minimizing the assets a person with special needs has ownership of ensures they will be able to qualify funds outright means those funds will be spent, and government support will be diminished, until the person When a child with special needs reaches adulthood, we help families navigate the guardianship process

same lines, if you are married with young children and both parents die, then your failure to appoint guardians Again, if you have minor children, you can name a guardian for them. However, appointing a guardian can be done less formally in some states. Like those you ask to be your children’s guardians, talk to the individual you’ve asked to be your proxy This person will need to be the one to carry out your wishes if you cannot do so for yourself.

For example, to appoint a Guardian.