• 01
  • June
    2011

Naming a guardian for any minor children in the event of their parents' death is one of the most important aspects of creating an estate plan. As recommended by Sarah M. Johnson in an article published in the Wealth Strategies Journal, attorneys can help parents through this sometimes emotionally-difficult process in four key ways:

Explaining the Law

An estate-planning lawyer can explain to parents how the law affects their guardianship decision. In New Jersey, a judge does not have to appoint or approve of a nominated guardian. Instead, the parents' wills control who is appointed as the guardian of any minor children should both parents pass away.

Highlighting Factors to Consider

An attorney with experience in estate planning knows that different characteristics of potential guardians are important to different parents. But an attorney can also remind parents of other significant factors that they may not have considered, including:

• The child's age and preferences

• The willingness and ability of the potential guardian to raise the child

• The potential guardian's values, religion and child-raising philosophy

• The potential guardian's family circumstances

Discussing Economic Implications

A lawyer can guide parents in discussing the relevant issues. These can include the costs of raising a child, whether the potential guardian has the financial ability to do so, and how money would be distributed from the child's trust to provide for the child.

Creating Valid Estate-Planning Documents

An estate plan loses its value if it is found unenforceable or against the laws of New Jersey. An estate-planning attorney can help parents create estate and guardianship plans that clearly and validly communicate their wishes.

Source: Appointing a Guardian for a Minor Child, Forbes, 4-18-11