Manchester by the Sea has drawn praise and is Oscar nominated. It also highlights the importance of careful estate planning, according to The Spectator in "'Who gets the kids if we die?' Planning for the unthinkable."
A brother passes away and the guardian of his teenage son is notified. Caring for the teenager will not cost anything, since the estate will supply all of the funds. However, there is a need to relocate to care for the child. One problem is this was not communicated to the guardian beforehand.
Planning to nominate the guardians for your minor child should something happen to you, must be undertaken carefully. For obvious reasons, it is very important that you consider your options.
The guardian you choose should be emotionally and financially secure, so he or she can handle the difficulties of suddenly rearing an orphan.
It is also extremely important that the guardian not be surprised by your decision after you pass away. You need to choose someone who is willing to take on the responsibility.
Talk to your first choice for a guardian and make sure that he or she is ready to act in the role.
The film world is one thing but real life can often turn out to be different. If you have any questions about your children and your estate plan, contact us today.
Reference: The Spectator (Jan. 31, 2017) "'Who gets the kids if we die?' Planning for the unthinkable."
Suggested Key Words: Guardians, Estate Planning