When Is Guardianship Necessary?
When you are caring for a child, you might not have thought about establishing a legal guardianship, but it’s a significant step towards guaranteeing the laws are going to work in your favor in safeguarding the best interest of the child. You might find yourself inquiring about, “When is guardianship necessary?” This frequently asked question covers matters associated to when you are and are not required to establish guardianship.
I have a child presently living with me, and I’m providing all her care – do I need to establish a guardianship?
It is subject on how long you plan to care for her. If she is only going to live with you for a short amount of time — a couple of weeks or months — then a guardianship is most likely unnecessary. Any longer than those times and you should probably consider it. With a guardianship in place, you are going to have a much easier time managing certain tasks on her behalf, like enrolling her in school, acquiring medical care and benefit registration.
Additionally, without a guardianship, you are going to have no argument if her parent attempts to regain custody of her, even when you believe they are unsuitable parents. There’s no assurance that a guardianship is going to allow you to continue caring for the child if her parents want her back, but it certainly improves the odds.
I’ve overheard that parents oftentimes are required to establish guardianship of their own children’s property. Is there truth in that?
Unusually enough, it is the truth. If children come into big amounts of money or property, parents must oftentimes establish what is referred to as a “guardianship of the estate”. This is typically only required when children receive money or property over the amount above $5,000, but the amount differs depending on state laws.
Are there benefits of establishing a guardianship of the estate?
A guardianship of the estate is vital for a couple of reasons:
- It frees individuals and organizations from being liable should they turn the money or property over to the child’s parents and the parents afterwards squander it; and
- It exposes the parents’ management of the property to a judge’s review.
When a younger child receives high-value property, though a will for instance, they are often not ready for the responsibility of the management of the property. If a financial institution or the estate’ executor simply transfers the property to the child’s parents rather than the child, the parents could abuse the property and the child might be left with nothing when they are no longer a minor. This could subject the financial institution or executor to legal action from the child or their guardian.
If the parents establish a guardianship of the estate, on the other hand, the guardianship statutes withdraw liability from the financial institution or executor. The parents are also going to have to demonstrate to a court that they have reasonably managed the property, which gives the child additional safeguarding.
Are there options to a guardianship of the estate?
Whereas an establishment a guardianship of the estate is able to safeguard a minor child’s assets, it can also be costly and arduous to devise. A lot of states have acknowledged this and passed statutes that make it easier for parents to oversee gifts made to their children when they are under a specific amount. The gift-giver typically only has to name an individual to oversee the gift until the child is no longer a minor. This process does not require the involvement of any courts. The highest amount of the gift differs by state, so make sure to verify the laws where you live.
Discover More About the Guardianship Statutes in Your State from an Attorney
Guardianship is a vital legal process that has lifelong consequences for those involved; so it makes sense to do it correctly. If you are in a guardianship circumstance, or simply want to find out more about the guardianship statutes in your state, it’s wise to speak with a qualified family law attorney near you.
Source:
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Guardianship laws FAQ: When is guardianship necessary? Findlaw. (2018, November 26). Retrieved June 28, 2022, from https://www.findlaw.com/family/guardianship/guardianship-laws-faq-when-is-guardianship-necessary.html
Arizona Family Law
Naming guardians in your will can be part of your estate plan. You may think you’re too young or don’t have enough money to justify the expense, but if you have children, you have priceless assets. There are many considerations when naming guardians for your kids. However, the process doesn’t have to be expensive or complicated.
There’s nothing better than the peace of mind you will have knowing you’ve protected your family at a time when they need it most. Let us help. Schedule a consultation or contact Ogborne Law, PLC of Arizona today.
