Deciding when a parent needs a guardian is never an easy decision to make. If you fail to step in, however, your parent could be physically injured or financially victimized by unscrupulous individuals who prey on the elderly. For these reasons, it is best to be proactive if you suspect that a parent’s physical or mental health has deteriorated to the point where a guardian may be needed. The average American lives much longer now than was the case a century ago. Living longer, however, doesn’t … [Read more...] about How Do I Know When My Parent Needs A Guardian?
Statistics tell us that one out of every three adults who makes it to the age of 65 will suffer from some type of dementia related disease or condition. If your parent, or other elderly family member, becomes one of these statistics you may find yourself in a difficult position. Stepping in and seeking legal control over your loved one may seem like you are taking away his or her independence; however, failing to step in could lead to tragedy. Knowing what a guardian or conservator in Texas can … [Read more...] about What is a Guardian or Conservator in Texas?
When most people think about their Last Will and Testament, they think about a division of their wealth after death. While your Will certainly does accomplish that goal, it can do other things as well such as nominate a guardian for your minor children. In the event that neither you nor the child’s other parent is able to care for the child, this person will do so, meaning that your choice of guardian should be made after careful consideration and deliberation. Consider the following tips when … [Read more...] about Choosing a Guardian for Your Child
Nominating a guardian for your minor children is not an easy task. You have to decide who you know that will be the best person to raise your children in your absence. Most people choose a married family member with a family of his or her own. There is nothing wrong with that. However, many people go about drafting the nomination poorly. What many people do is to state that they want the family member and his or her spouse to be guardians. They make it sound like a joint guardianship. This can … [Read more...] about Married Guardians
It seems like every month, if not every week, there is a new story about a court-appointed Guardian who has taken advantage of an elderly person the Guardian was supposed to be looking out for. Most Guardians do a fabulous job, but we only hear about those who do a bad one. We hear about the few Guardians who steal from their charges or neglect the people they are supposed to be taking care of. In all likelihood, if a Court ever appoints a Guardian to be in charge of your affairs, that Guardian … [Read more...] about Don’t Rely on a Guardian
Often times, parents with young children disagree over who should be appointed as guardian of their children should something happen to the parents. The husband wants someone in his family to serve in that role, and the wife wants someone in her family. There is no need to fight about it. You can compromise. In this case, you can actually learn a valuable estate planning lesson from a member of the Beastie Boys. Adam Yauch, better known as MCA, passed away in May 2012, leaving behind a wife and … [Read more...] about Pass the Mic and the Guardianship
When starting a young family and watching your first child come into the world, the last thing on your mind is creating a will. However, as soon as you are responsible for another human life, one of the very first things you should do is create your last will and testament. There are many reasons for this, not the least of which is making sure that your child is taken care of after your death. Even though we all plan to live a long, healthy life, we know that it doesn't always happen. Making … [Read more...] about The Top Three Reasons Why Every Parent Needs a Will
For parents of young children, perhaps the most difficult and emotional part of making an estate plan is deciding who to nominate as guardian of your children. This person will step in and care for your children in the event that your kids are left without parents before they reach adulthood. It can be hard enough for married parents to come to an agreement on this incredibly important topic; but when you’re divorced from your child’s other parent, coming to an agreement can be all the more … [Read more...] about Selecting a Guardian: A Primer for Divorced Parents
If you’re a parent, you likely put a lot of time and careful thought into choosing a guardian for your children when they were babies or toddlers. But, as time passes and your children grow, the person who initially would have made the perfect guardian might not seem like such a great choice. For example, the grandmother or grandfather who was in perfect health ten years ago might be in a nursing home now. Or, the close family friend whom your children adored when they were preschoolers might … [Read more...] about Estate Plan Update: Time to Choose a New Guardian?
As you make your estate plan and update it over the years, you’ll need to nominate several fiduciaries. What exactly is a fiduciary? It’s a person or an institution who will have the power to act on your behalf (or on behalf of your beneficiaries) in carrying out different elements of your estate plan. A fiduciary is responsible for acting in the interests of another person – and not necessarily in his or her own interests. Here are a few examples: Executor: An executor is the person … [Read more...] about Estate Planning Glossary: Fiduciary