Estate planning really comes down to just one choice. Would you rather decide what happens to your child and possessions by writing a will or would you rather have a judge make those decisions? Well over half of all Americans have apparently decided that a judge could make better decisions concerning their family and possessions than they could since they don’t have a will.
Accidents Happen…
Immortality doesn’t exist in the real world. Ignoring this reality may be more comfortable, but won’t be of any value to loved ones in a worst case scenario. Half of all American parents don’t have a will. This means that although they may have discussed between themselves who they would prefer as a guardian for their children, they haven’t taken the necessary step to legally express their wishes by consulting a Wills Attorney Nassau County NY and drawing up a will.
A Judge Would Decide Guardianship
If the parents did not consult a Wills Attorney Nassau County NY and died without a will, the court names the legal guardian of the child. Grandparents or an older sibling will not automatically be selected. Instead, any friend or relative would be able to present themselves to the court as a potential guardian. The judge will choose the guardian based upon his or her opinion as to which guardian would be in the best interests of the child. The judge could also choose a backup guardian to take over in the event that the primary guardian cannot continue to care for the child. Click here for more details.
Money Management
If the child inherits money or property, the judge will determine how those assets will be held and managed on behalf of the child. In some cases, history has shown that certain relatives mount a vigorous campaign to gain guardianship of the child and management of and money and property the child inherited. The person who could make a case as the most effective money manager would not necessarily be your choice as a good substitute parent.
Peter Morra and the staff at The Law Offices of Peter Morra have been assisting NY residents with their legal needs since 1995. If you believe that you are best suited to decide who should care for your child if you were unable to, then you need to consult this Wills Attorney Nassau County NY. He has the experience needed to help you do what’s best for your family.
