Ready for Summer Camp? - Currents Magazine Article March 2023
When I send either of my boys off somewhere, whether it is summer camp, scouting trips, or now, back to college, my packing list for them is very different than their lists! I am thinking through every possible need or worst-case scenario and what I can do to prepare and protect them. Often times, I have to take a big, deep breath as I sign all of the waivers and forms allowing them to try new activities and have fun and adventure far away from my ability to monitor, much less control, how things will go. I made a rule years ago that I am not to hear any “exciting” stories of close calls (my words, they would say “wicked cool” happenings) and “death defying” events until they are back home with me, safe and sound, with all body parts still in-tact.
From the day your child is born until the day your child turns 18, you have the same opportunity, and responsibility, to prepare and protect your child from the real worst-case scenario. What if something were to happen to you? They’ll need someone to care for them and manage their inheritance.
An experienced estate planning attorney can ensure that your estate plan includes, at least, a guardianship provision and minor’s trust provisions. These provisions could help avoid potentially costly, inflexible and constantly intrusive court hearings (until your child turns 18).
The guardianship provision recommends to the Clerk of Superior Court who should become your child’s Guardian of the Person. This recommendation serves as “a strong guide” to the Court, potentially avoiding emotionally charged hearings at a time when your child and family are grieving. The minor’s trust provisions can avoid the need for appointment of a Guardian of the Estate and allows you to choose who manages your child’s financial needs, how the money can be spent, as well as when, and how your child’s inheritance is distributed.
Life is an adventure: be prepared.
Leah Trowbridge, Estate Planning Attorney
The McIntosh Law Firm, P.C.