Tag Archives: Guardianship
When Does Someone Need a Property Guardian?
When individuals cannot manage their finances, courts can appoint guardians. Guardianship is for those who need help handling money. Depending on the jurisdiction, financial guardianship may also be called guardianship of the estate or conservatorship. In Maryland financial guardianship is called Guardian of Property. Similarly, in the District of Columbia, a financial guardianship is called a… Read More »
The Basics of Guardianship (Part 1)
Protecting and providing for your children is particularly challenging if they have special needs requiring additional care to address their vulnerabilities. Structuring your estate plan to include the appropriate legal documents in the event of your death is crucial, especially when naming a guardian. Special needs children often require guardianship past the age of… Read More »
Help! I’ve Been Named as a Guardian. What Do I Do?
A guardian is an individual who cares for someone who needs special protection. Adults can nominate a guardian in his or her Will. Likewise, parents can also nominate a guardian in their Will, but a court must confirm and officially appoint the guardian. Sometimes the need for guardianship arises when the parents are still… Read More »
What to Do if You’re Appointed Guardian of Property in Maryland
Your grandfather Martin can no longer make decisions on his own. A court appoints you to be Martin’s guardian of property, to manage Martin’s assets. You become Martin’s “fiduciary.” The law now requires you to act to a high standard of good faith and honesty. Appointed Guardian of Property in Maryland: What Now? There’s… Read More »
Better to Play It Safe: Proactive Estate Planning and Cognitive Impairment
Most financially savvy individuals begin planning their estate when they’re in peak mental shape. The idea that this might change at some point in the distant future is an unpleasant one, and they would rather go about their estate planning as if they’ll be as sharp as a tack late into their golden years…. Read More »
IRAs, Annuities and Guardianship: Providing for Your Minor Children After You Die
For most parents, making decisions regarding guardianship of their minor children is the most vexing part of estate planning. Not only must you trust the appointed guardian to raise your children as you’d want them raised, but you also need that person to be financially responsible with your children’s inheritance. For example, if you… Read More »
New Baby? The Importance of Estate Planning for New Parents
Estate planning is often one item that gets pushed back on nearly everyone’s to-do list. The reasons you might be delaying vary: lack of time, not thinking you have enough assets, not knowing how to start, or fear of contemplating death. Whatever the reason for not putting an estate plan together up until now,… Read More »
Estate Planning Myths: Why Me, Why Now … and is a Will Enough?
Marylanders – you have worked hard for years, have family members and friends you care about, and have approached a time in your life when “estate planning” sounds like something you should do … but you are not exactly sure why. You may feel that you are not wealthy enough – or not old… Read More »
Avoid Living Probate: How to Keep Guardians and Conservators Out of Your Estate (UPDATED: May 2019)
While most proactive individuals know the importance of having a well-rounded estate plan, it is typically considered as something that will take effect after they have passed away. But there are in fact many ways in which comprehensive estate planning can have a positive impact on your life while you are still around to… Read More »
Do It Now: Why Naming a Guardian for Your Child Can’t Wait
We know it’s hard. Thinking about someone else raising our children stops us all in our tracks. It feels crushing and too horrific to consider; but you must. If you put off naming a guardian for your child, it’s possible that a stranger will end up determining who raises your child if something happens to… Read More »
