As a minor child’s parent, you need to think about their future when estate planning. In addition to leaving them an inheritance, you should choose a guardian to raise them to adulthood in case something happens to you and their other parent.
Your child’s guardian will have various powers and duties to ensure your child is raised appropriately. Here are four of them:
Day-to-day care
A guardian has the right to make decisions regarding the day-to-day care of the person subject to guardianship. This means they can decide where your child lives, what they eat, where your child goes to school, what they wear, where they go on vacation, how they receive medical treatment and so on. Basically, they can make decisions about your child’s overall well-being.
Receive money for the support of your child
Depending on the provisions of your will, your child’s guardian may have the right to receive money from the funds you leave in a trust, insurance system, conservatorship or any other tool to meet your child’s day-to-day needs. Your chosen guardian can’t use the money they receive for compensation for their services unless the court or an appointed conservator approves it.
Apply for government assistance on behalf of the child
If your child needs any assistance, services or benefits available to them through any unit of government, their guardian can apply for it on their behalf. More than likely, they will also control those benefits until your child becomes an adult.
It’s crucial to be well-informed about the powers and duties of your minor child’s guardian. Then, choose a party you believe is best suited to possess/assume such powers and responsibilities.
