By Harry J. Lenaburg, Esq.
My wife and I recently spent a weekend caring for
our four grandchildren, and the thought came to my mind how unprepared many
young parents are for the possibility that something may happen to either or
both of them. Who will care for their
children, and who will watch over their finances?
Consideration must be given to who will physically
care for the children in the event of the death, or total incapacity of both
parents. Who is it that you believe can
best care for and raise your child or children?
Often a sibling will be willing and able to do so. Grandparents are almost always willing to do
so. Young parents must thoughtfully
review their options, and make the choice that in their hearts serves the best
interest of their child or children.
A Will is the usual instrument used to state your
chosen preference for Guardian and Conservator for your child or children. In the event of your death or incapacity the
probate court, which is the court with jurisdiction, will generally honor your
nomination.
While the Guardian takes care of the physical needs
of the child or children the Conservator is responsible for the finances of the
child. Although the same person may be
nominated as both Guardian and Conservator, the same person does not
necessarily have to be so appointed.
Many of us have friends, or family members who are somewhat challenged
when it comes to properly handling their finances. Likewise we have friends and family members
who are strong in financial areas.
Remember, this is your children whose future you are contemplating. Sometimes the best person to care for a child
is different from the one who will best watch the finances.
Young parents should be thoughtfully discussing
these matters, and reaching a consensus on whom they wish to nominate as the
Guardian and Conservator for their child or children. It is important that you verify with the
people you wish to nominate for these important positions that they are willing
and able to accept the honor and the responsibilities that you are
proposing. It is also good practice to
propose an alternate Guardian and Conservator, in case for the reason the
original nominee or nominees must decline the position due to changes in their
circumstances.
The Law Firm of Jessica M. Cotter, P.L.L.C.
18301 N. 79th Ave. Ste f-168
Glendale, AZ 85308
602-843-3004
jmcotterlaw@gmail.com
JessicaCotterlaw.com
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