Naming a Guardian – Do You Need Court Approval?

If you have minor a child, or children, an important issue you’ll need to address in your estate plan is determining who will take care of your children if you suddenly pass away. This person would serve as a “guardian” for your children until they become legal adults. A question I routinely get asked by clients is whether the guardian they prefer to name will need to be approved by a court. Here’s the answer: it depends. A major factor that will influence a guardianship issue is where you reside. If you live in Maryland, you can actually name a guardian in your Will and not have to worry about court approval. Specifically, Maryland law states that “unless prohibited by agreement or court order, the surviving parent of a minor may appoint by Will one or more guardians and successor guardians of the person of an unmarried minor....

07 April

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No Children? The Challenge of Deciding Who Receives Your Estate’s Assets

Posted by Bobby Feisee

in Bobby's Blog

Most people with adult children include them in their estate plan by giving them authority to make decisions on their behalf, and to ultimately inherit their assets. But what about couples who have no children? Estate planning for childless couples can actually be more challenging than for couples with children. How is it more difficult? Well, because there’s probably no default individual to empower to make decisions on your behalf, administer your estate, and determine who will inherit your assets. Childless couples usually look to siblings, extended relatives, charities, or close friends. Another issue for childless couples is the tendency to delay putting an estate plan together. They may think it’s not a time-sensitive task since they don’t have offspring to consider when they ;pass on. This is the wrong kind of thinking. What if you become incapacitated? If you don’t have a power of attorney, advanced medical directive, and...