Sometimes, there are unfortunate situations where one or both parents become ill or suddenly passes away, which leaves behind one or more children. In order to make sure that all of the affairs and the estate are prepared for the children, the parents may have included a guardianship in their estate plan. A guardianship is when one person is appointed by a parent to handle all of the money and assets of the surviving children. The guardian is responsible for managing the money for the child until they turn 18 years of age. Once the child reaches adulthood, they will be responsible for handling their own estate.
Who should be appointed the guardian of an estate?
In many situations, parents will appoint each other to be the guardian of their child’s estate upon passing. However, when both parents are no longer alive or able to care for the child, there may be another trusted individual appointed as the guardian of the estate. In some situations, the court may actually appoint a different individual to act as the guardian of the estate. This often happens when neither parent is available and they haven’t listed another guardian.
If you have questions about appointing a guardian in your estate plan, contact our firm today.
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Contact The Law Offices of Yacoba Ann Feldman for a consultation today.
