Within a will or a trust, it is advisable to include terms for care of your underage children, in the event of your untimely passing. These terms are known as guardianship or conservatorship. Should you fail to name a guardian for your children, the court will appoint a guardian on its own.
Don't leave your child's future up to the determination of the courts. Ask our Hillsboro estate planning lawyers at Nachtigal, Eisenstein & Associates to counsel you through the laws which apply to your guardianship and conservatorship planning.
Issues of guardianship or conservatorship usually do not arise unless both parents have died. However, just because it is unlikely doesn't mean that you should not plan for it in your will. When deciding who to name as your child or children's guardian, consider those who are already close to your family. Sometimes, immediate family is not your first choice. It is legal to appoint a close family friend, and advisable if you feel that friend would be the best fit for your children.
Consider your desires for your children as you choose a guardian:
Even though the court does not legally have to accommodate your request as you have outlined in your will, they usually will appoint the guardian whom you named.
The financial management of an estate can fall into the hands of a conservator before your death. If the court decides you are incapable of managing your estate, your plans for a conservator can go into effect. Preemptively appointing a conservator can ensure that your finances move into the hands of an individual whom you trust to continue to manage your estate in a manner you trust.
An emergency conservator can be appointed as a temporary solution; however, you can avoid this by establishing a plan now. Ask our Hillsboro estate planning attorneys to begin working with you to develop the best plan that can protect your children and your finances.