Do you have minor children? Have you named a guardian for them?
The Covid-19 pandemic has emphasized the fragility of life. Make sure that you determine how your children, under the age of eighteen, are cared for should you pass away. This is an essential part of your estate plan. If it isn’t in your estate plan and you pass away, a judge will appoint a guardian for your minor children without knowing whom you might have chosen.
Guardians take on the parents’ roles and raise the children on their behalf, making the myriad attendant decisions that parents ordinarily make. The guardianship ends when the child or children turn eighteen years old.
A wonderful guardian who may be great with the kids may not be great at managing their money. In Massachusetts, a conservator may be named in addition to a guardian. The conservator’s role is to manage the children’s financial situation until they are eighteen. The same person may serve as both guardian and conservator or that may be handled by two separate people. This should be specified in the will. Selecting a guardian/conservator is a very important decision which benefits from good legal counsel.
Do yourselves and your children a huge favor. Without delay, name a conservator/guardian in your will. Should the unthinkable happen, made sure your children are cared for as you would want them to be. Creating a good and effective estate plan requires good legal expertise. Work with Shoffner & Associates to develop one that best addresses your and your family’s circumstances.
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Starting a NEW business or know someone that could use our help? Call your friendly neighborhood attorney today.
Freya Allen Shoffner, Esq.
Shoffner & Associates
Counselors to Small Business and Families.
Give Freya a call at (617) 369-0111 TEXT US (413) 207-6219 or email fashoffner@shoffnerassociates.com
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