For real property or personal property or property bequeathed to a minor pursuant to the will of a parent or grandparent, the will should contain a testamentary trust providing for the management of inherited property for the benefit of the minor. The trust should indicate who will act as trustee. It can be a family member. It should also indicate how the trust should be used, for example for health, education, maintenance and maintenance, and should indicate the age at which the child can fully receive the inheritance. It is essential that beneficiary designations on life, annuity and annuity insurance accounts be coordinated so that these accounts are distributed to the trust. If you have a maritime legal problem, contact an Admiralty lawyer immediately to enforce your rights and explore your legal options. As with your own personal, health and financial decisions, would you rather choose the guardians yourself (i.e. surrogate parents) or let an estate judge make the selection without your input? Only through proper legal planning can you choose legal guardians. Created by FindLaw`s team of writers and legal writers| Last updated November 09, 2018 Emancipation has several advantages. An emancipated minor: Under Pennsylvania`s Estates Act, also known as the Deceased, Estates and Trustees Code, a surviving parent can appoint a “guardian of the person” of a child. Person guardianship refers to the person who has custody of the child, who makes decisions about where the child will live, the religion to which the child will be exposed, the type of medical treatment the child will receive, and other problems that parents usually resolve. A “guardian of the estate” of a child may also be appointed to make financial decisions for the minor. These appointments are made in the parents` will.
For minor children, estate plans include contingency plans for guardians in the event that you and your spouse cannot or cannot raise them; Estate plans can often include various forms of trusts that are set up to provide for your minor children as they transition to adulthood. Bratton Law`s estate planning lawyers know that it`s not easy to think about what would happen to your children if something devastating happened and took your life or your partner`s. But we also know how important this kind of plan can be. We`ll guide you through the estate planning process, approaching each step with compassion and support. We know you want what`s best for your children, and we can help you take care of them even when the worst happens and you can no longer take care of them. So who will manage the legacy left after your death? What happens if you and the other biological parent are divorced or never married? Even though he can raise your minor child(ren) to adulthood, do you also want them to control the inheritance you leave behind? If you created your basic estate planning documents (continuing power of attorney and others) when you were single or married for the first time, you have a good foundation for your estate plan. If your children are approaching the age of 18, please read this free PDF brochure. A legal guardian is a person appointed by the court to care for your minor children if something happens to you and you are no longer able to care for them yourself (such as incapacity for work or death). By naming a legal guardian in your will, you can determine exactly who the court will appoint as your legal guardian. The guardian has the legal authority to make decisions on behalf of your children, including decisions about their education, health care and overall well-being. Working with an experienced estate planning attorney is crucial when it comes to choosing a legal guardian for your minor children. A lawyer can help you navigate the process and ensure that all your wishes are respected.
They can also help you choose a legal guardian who is best placed to take care of your children and who will follow your wishes. Parents of minor children are often faced with two crucial decisions. First, who will take care of my minor children if they are orphans, and second, who will manage their inheritance? This article is for you if you and your partner need to discuss: “Who will raise our children if something happens to us?” Emancipation refers to a court case whereby a minor becomes autonomous, assumes responsibility for his or her adult well-being and is no longer in the custody of his or her parents. Upon emancipation, the minor assumes the rights, privileges and obligations of adulthood before actually reaching the “age of majority” (adulthood). At that point, the minor`s parents are no longer responsible for the child and are not entitled to the minor`s income. During the judicial proceedings – and before granting emancipation – the court takes into account primarily the well-being and maturity of the minors and considers whether the minors can support themselves financially. In general, the minimum age at which a minor can apply for emancipation in court is sixteen (which means a two-year advance in most states where the age of majority is eighteen). California, on the other hand, has a minimum age of fourteen to seek emancipation from its courts. Choose someone who has the capacity to be a parent. The guardian you choose should be someone who is able to take care of your children physically and emotionally.
This includes the ability to provide a stable home environment, financial support and love. For parents, it is no longer necessary to support the emancipated minor financially or prudently. After emancipation, child support obligations also lose. Also check out our guide to basic legal documents on estate planning here. We often set up the children`s trust as part of their parents` estate planning process. If the executor administers the will, they file the insurance claim and fund the trust as part of the process.