It’s as if the Momversation panelists were reading my mind. The topic of wills, guardians, trustees and power of attorney have been on my mind for weeks now. The sudden gallbladder surgery combined with the news of Michael Jackson’s passing (and the future of his kids) both hit me like a ton of bricks. Matt and I have started to get things in place in case something happens to us. We asked a married couple if they would be willing Haven’s guardian and they graciously accepted the task, which is a huge relief to know people you trust are willing to raise and love your child in the event we are no longer able to do so.
I’m curious what other parents of young ones have done? Any suggestions or words of wisdom on this topic?
Every parent should have put in place both a legal document (will) to specify their preferences regarding guardians for their children but also spoken to their family and potential guardians about their preferences. Because children are not property, the will does NOT decree who “gets the children”; that decision is made by the court. But if your family, friends and even your children know your preferences and plan, then there is a much greater chance that your wishes will be recognized by the court, who will ultimately make the decision regarding legal guardianship.
I just read an article about Michael Jackson’s will in “Investment News” – a publication for financial advisors entitled, “Jackson Will Hits all the Right Notes” where they basically say that his will, from guardianship to the trust, to outlining that estate taxes on property passing outside of the will will be paid by the taker of such properties, was an excellent piece of legal work.