By Misty A. Watson
One of the most difficult decisions parents face when completing their estate plan is who should serve as guardian for their minor children. Here are a few common discussions regarding choosing a guardian:
- “I do not want to upset my parents, siblings, etc., but I want to appoint my best friend.”
- I recommend that parents choose someone to serve as guardian for their children that shares their values and is going to raise the children similarly to how they would raise them. Now is not the time to worry about whether feelings may be hurt. This is a very personal decision and family members may not always be appropriate to serve as guardian.
- “I want my sister/brother/aunt to be appointed guardian.”
- Each parent usually has a preference for his/her own family member. While an attorney can point out pros and cons to the parents, he or she will not take a side. While each parent can appoint different guardians for their children, this is not recommended as it will just lead to court battles. Parents should discuss and come to a consensus on who they want to appoint prior to meeting with the attorney.
- “We want to appoint my sister and brother-in-law as guardians.”
- Appointing co-guardians may be difficult. If your sister and brother-in-law get divorced, do you want your brother-in-law to have custody rights?
- Do you want to have to amend your documents if your sister and brother-in-law divorce?
- Typically, appointing your sister as the guardian is the better option to prevent unnecessary amendments to estate planning documents.
- “I don’t want my ex-spouse to have custody of our kids in the event I die.”
- Unfortunately, a surviving noncustodial parent has the right to take custody of the children unless he or she is unfit or unwilling to act. Typically your Last Will and Testament will acknowledge the rights of the other parent and appoint backup guardians for this case.
- “How many people should we appoint as backup guardians?”
- Two or three backups should be appointed. Typically you do not want only one person appointed as guardian with no backup appointed.
Keep in mind that your Last Will and Testament only expresses your wishes to the court regarding who should serve as your child’s guardian. The appointed person must otherwise qualify. A history of involvement in the child welfare system, felony convictions, or a drug or alcohol abuse history may prevent your appointed guardian from serving.
While the decision of who to appoint can be difficult, it is important that you name someone to serve as guardian in order to prevent prolonged litigation in the event of a tragedy.
Posted by Attorney Misty A. Watson. Watson’s practice focus is estate-related: planning, administration, and probate. She creates trusts, wills, financial, and health care powers of attorney, guardianships, and conservatorships.
02/3/12 12:45 PM
Estate Planning, Family Law, Special Needs | Comments Off |
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Choosing a Guardian for Your Children
By David A. Zobel
Part of a monthly multi-part series of discussions aimed at explaining legal and financial considerations for young professionals as they establish and develop their careers, relationships and lives.
The state where you reside shapes and defines what marriage is and what it means for you and your fiancée through its laws and licensing requirements. Because these laws and requirements govern very intimate aspects of our lives, they can be emotionally and financially significant. This discussion sets forth several legal considerations to keep in mind as you travel towards the big day.
Living Together Before Marriage
On December 14, 2011, the Pew Research Center released a report concluding that the number of young adults waiting to get married is on the rise. The study also concluded that cohabitation has risen to its highest level in decades. Cohabitation has its benefits; however, it can also have drawbacks.
In the state of Missouri, simply living together does not affect any property either of you own. Upon break up, you are each entitled to your own property. The situation becomes more complicated when you begin purchasing real estate or personal property together or if you pay off each other’s financial obligations. Depending upon the circumstances, a court may require one party to compensate the other. Paying for your share of the fifty dollar rug you purchased together is one thing, but what about your share of that car? Or the house?
Plan on moving to another state? In some states, merely living together can have great implications. Depending on where you live, who you live with, and how you present yourself, you might find it interesting that in the eyes of the state, you might already be characterized as married. Known as a “common-law marriage” and contracted in a handful of states, this type of marriage carries with it the same rights, responsibilities and obligations of a traditional marriage, including those in divorce.
Who Gets the Ring?
You’re a huge Cardinals fan. You find out she has been hiding from you that she is a dyed-in-the-wool Cubs fan and don’t think you can ever forgive her. The engagement is off. Now what? What about that ring you saved for months to buy her?
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01/10/12 10:14 AM
Family Law | Comments Off |
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Considerations Before Popping the Question: What the Law Has to Say and What You Should Know
By David A. Zobel
Part of a monthly multi-part series of discussions aimed at explaining legal and financial considerations for young professionals as they establish and develop their careers, relationships and lives
It’s probably a safe bet that most people in their twenties and thirties have not given much thought to estate planning. Short of a first child or a friend asking if you want life insurance, planning for what will happen when you die probably hasn’t come up and why should it? You’ve got youth and health on your side. Moreover, you probably don’t have a lot of assets at this point.
So why is it important? I asked estate planning attorney Misty Watson to help explain. According to Watson,
“Planning for the future encompasses much more than where your property goes upon your death. Estate planning can also cover who handles your finances if you are out of town, who makes medical decisions for you in the event you become incapacitated, and who becomes your guardian if a court declares you incompetent.”
With these thoughts in mind, you may want to reflect upon the following considerations:
What Happens to My Assets?
You have more than you think you have. Even if you don’t own a home or a wall safe full of bullion, you still have assets and they need to be distributed somehow and to someone. Consider the following examples: bank accounts, savings accounts, stock, bonds, 401ks, IRAs, other retirement accounts, automobiles, clothes, art, appliances, and furniture. Chances are you have at least one of these things and more than likely you have a few. Maybe you’d like your friend to get your watch or a fund be set aside for your nephew’s college fund. Estate planning assists in sorting out who gets what and when.
What Happens to My Children?
If you have children and are single, chances are you may have spoken with someone about taking care of your children in the event you pass. However, without any sort of document proving these intentions, how will the State know what to do? If you are married with children, your spouse will take on the responsibility, but what if you die at the same time? Or get divorced? Your children’s future should be your decision and not left up to the State or a court system.
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12/12/11 9:32 AM
Estate Planning, Family Law, Probate, Trusts | Comment (1) |
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Estate Planning for Young Professionals: Why Considering Your Death is Important Even at this Age
By Misty A. Watson
The IRS has published guidelines for domestic partners in community property states and same-sex spouses in California.
Each year, many LGBT couples must complete two separate and completely different tax returns. For states recognizing same-sex marriage or allowing the registration of domestic partners, the couple may be able to file jointly for their state tax return. Then, due to the provisions of the federal Defense of Marriage Act, the couple must individually complete separate federal tax returns.
The IRS guidelines help with couples in which an individual may be eligible for head of household status and clarify that each member of the couple must file a separate tax return.
For more information, click here: “Questions and Answers for Registered Domestic Partners in Community Property States and Same-Sex Spouses in California.”
Posted by Attorney Misty A. Watson. Watson’s practice focus is estate-related: planning, administration, and probate. She creates trusts, wills, financial, and health care powers of attorney, guardianships, and conservatorships.
09/22/11 12:53 PM
Estate Planning, Family Law, Tax | Comments Off |
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IRS Publishes Guidelines for Domestic Partners and Same-Sex Spouses
By Misty A. Watson
CNN released an article today titled “‘Eye on the door’: Life with autism wandering” about children with autism who tend to wander off. Whether you are in public or at home, the thought of your child wandering off can be terrifying for any parent. Parents of a child with any diagnosis that causes the child to have more of a tendency to attempt to escape parental supervision should take extra precautions. Here are a few ideas from the article:
- Make sure you have your child fingerprinted by your local law enforcement agency. Often the police department will have kits parents can obtain to fingerprint and list other vital information.
- Contact your local law enforcement agency and see if they have a registration program. Many municipalities are instituting programs for the elderly with dementia or Alzhemeir’s in the event they are found but cannot remember where they live. See if the municipality has a similar program or advocate for the implementation of such a program in your neighborhood.
- Educate your neighbors regarding your child’s diagnosis and tendency to run away. Let them know where you live and how to contact you in the event that see your child unsupervised.
- Be aware of dangers in your neighborhood. If the child has a strong interest in water, such as the child in the article, make sure you know who has swimming pools in the neighborhood and whether those pools have fences. If moving to a new neighborhood, make sure to check the code requirements for swimming pools and know whether the neighborhood required a proper fence.
- Install alarms on your windows and doors that alert you if a door is opened.
- Finally, GPS tracking devices are now sold in bracelet and necklace form. For a child that will tolerate wearing one, these can be an excellent device to locate a wandering child.
Whatever steps you take to secure your child from escaping parental supervision, make sure you educate yourself about the resources in the community and be aware of the potential dangers in your neighborhood.
04/11/11 2:01 PM
Family Law, Special Needs | Comments Off |
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Special Needs Kids: Autism Elopement
