Tips for Making Provisions for Guardianship and Custody in Your Will
Drafting a will ensures that you are able to clearly state your wishes regarding issues such as asset inheritance and child custody or guardianship following your death. Whether you are creating a will for the first time or updating a previous document, it’s important to consider several factors when making provisions for guardianship in your last will and testament in Baltimore. Working with an experienced lawyer can help you ensure that the provisions you make are appropriate and beneficial for your children in the event of your death.
Tips for Naming Guardians
During the creation of your will, you should name one primary and one secondary guardian for each of your children currently under the age of 18. The purpose of naming a secondary guardian is to ensure your child is cared for in the event that your primary choice does not wish to or cannot fulfill the obligations of guardianship. It is typically best to name only one primary guardian, as naming two individuals could lead to conflict over custody in the future; however, naming both members of a stable couple or marriage is acceptable if you want both parties to have legal control over your child’s future.
Tips for Handling Finances
In addition to naming a guardian to retain custody of your children in your will, it’s also important to consider how you will provide financial support for your children in the event of your death. You may wish to appoint a separate individual to control the financial aspects of your child’s estate if you feel that the individual to whom you have granted guardianship may not be the best person to handle your child’s financial future. Alternatively, you can opt to set up a financial trust for your children, which is designed to meet their ongoing financial needs; when creating a trust, you will need to name a trustee in charge of handling these assets.