Often, parents assume that if something were to happen to them, a spouse would naturally step in and raise the children on their own. However, that assumption doesn’t consider scenarios where both parents are incapacitated or suffer fatal injuries. In addition, without established guardianship criteria set in place, the child’s legal surviving parent will be granted custody. This is not always the biological parent.
Children expect and deserve stability. When their lives are shaken up at an early age, it can affect future decisions and/or actions. Keep kids safe and protected by implementing detailed guardianship provisions. Here’s how to get started:
Establishes Custody Rules
As mentioned, when an incident occurs that incapacitates or kills one parent, the surviving legal parent can establish custody. This doesn’t always take into account situations involving divorce, or your specific desires. Further, if the surviving legal parent can’t be found or has otherwise disappeared, court action to determine custody could be necessary. This puts children in limbo and negatively affects their mood and general outlook on life.
By contrast, when you leave explicit custody instructions in your will and other legal documents, you get the peace of mind that your children will be financially protected and physically cared for. Begin the process by speaking with a skilled and qualified Volusia County guardianship attorney, who can help you determine the best methods to safeguard your children.
Responsibly Distributes Assets
In most situations under Florida law, a minor child can’t possess more than $15,000 unless those funds are part of guardianship of the property. However, once the child reaches their 18th birthday, they’re typically eligible to receive full inheritance.
Some parents have reservations about the potential for unsound or unsavory purchases by youth who receive an instant financial windfall. They’re concerned about the money management decisions of young people still in their teens.
Detailing your final wishes in a comprehensive will remains the best way to determine how and when assets are distributed. Trusts are also a possibility. It’s wise to know all options available to you before making any decision. Contact a reliable wills attorney in Daytona Beach who can help you establish important protection for minor children.
Protects Property and Finances
Along with minor child guardianship, there are various other types. That includes guardianship over the estate, where a trusted individual is tasked with making important financial decisions. This often requires a court appointment.
Guardianship over the person and the estate allows the appointed guardian to make medical, financial, and personal decisions for minor children. This is often valuable in the case of children with special needs or specific care requirements.
There are also alternatives to guardianship. That includes adoption, power of attorney, special considerations for vulnerable or incapacitated children and adults, and more. Meet with a trusted and reputable Daytona Beach wills lawyer to discuss the best options for you and your unique situation.
Determines General Care
Along with the mentioned benefits of guardianship, this designation also addresses school enrollment, psychological support, vacation, and recreation planning, and provides for the continued general welfare of minor children.
For more than 40 years, our law firm has assisted people across Central Florida with a variety of legal needs. That includes estate planning, real estate law, and guardianship. In addition, we’ve built a solid reputation as a stellar resource for probate in Holly Hill. Contact us today with your questions, and to learn more about how we can help with your current legal matters.