The birth of a baby changes parents forever. After the baby is born, life tends to be centered on the child. Much of the focus turns to the needs of the child and making sure that they have what they need to grow and mature. While parents do plan for the future for the child, it typically is by looking into which schools may be best or setting up a college savings plan for their child. They typically do not make plans for what would occur if they passed away.
It is certainly not something young parents want to think about, but life is very unpredictable. It is important that parents have a plan in place for who will care for their children if both parents are no longer able to do so.
Parents can name guardians for their children in a will
Many young parents do not think about having a will because maybe they do not have many possessions yet, but having one is important because wills also allow them to name the guardians they would like to care for their children instead of leaving the decision up to a judge after they have passed away.
Parents need to discuss who they would feel comfortable with as a guardian and need to choose people who are capable and willing to raise their children. This can be a difficult decision, but after they decide on the person or people who they want to care for their children if they pass away, they should then discuss their wishes with the potential guardians to ensure they agree to do it. After both the parents and potential guardians are in agreement, those guardians will be named in the will.
Minor children also need to have a financial guardian in place to receive their inheritance as they would be unable to receive it as minors. It is important that parents have this agreed to as well and ensure it is either the same person that is caring for their children or another individual who is able to work closely with the physical guardian to ensure the children have the financial resources they need as well.
Children are often the most important part of life for parents in Tennessee. They take many actions and make many decisions to help their children succeed. One that may be overlooked though is determining who will care for them if they pass away. Experienced attorneys understand how to draft proper wills to ensure that parents’ wishes for their children will be upheld in probate and may be a useful resource.