While your child with special needs is under eighteen, there is no question that you, the parent, are the decision maker. Upon attaining the age of eighteen, your child becomes an adult in the eyes of the law and is presumed to be able to handle their own affairs. This presents a problem for parents of children with special needs. Once your child attains eighteen, you are no longer legally eligible to make decisions for your now adult child. Continue reading What happens when your child with special needs turns 18?
I covered this in an earlier post, but I was just speaking to a friend this morning about it and thought I would share it again. Click here to read why your adult child desperately needs to have a medical power of attorney.
I know you have been hanging on my every word. I know that you have been wondering what could I possibly be up to that is so important that I don’t have time for you. I’m sorry. I never intended to neglect you. My only excuse is that litigation is taking up more and more of my time.
But Rob, I thought you were an estate planner! What are you doing in litigation? That’s an excellent question.
The answer is: Fiduciary Litigation.
What is Fiduciary Litigation you ask? Another great question.
Well, lets start with what a fiduciary is. Continue reading When the Estate Plan Goes South: Fiduciary Litigation – Beneficiary versus Trustee.
Personal Guardian. If something happens to you, you can name a guardian for your child in a Will. A guardian is the individual who makes decisions for your child such as what school and church to attend, who cares for the child, where the child lives. Typically the personal guardian raises your child in your absence. If you do not have a Will or fail to name a personal guardian in your Will, then a Court has no guidance as to who it should be. It is not hard to imagine that the choice a court might would make you roll over in your grave. Why leave it to chance?
Financial Guardian. If your child is under 18, then the child is legally unable to manage their own property. If the child inherits something, then the child must have a financial guardian appointed by a court to manage their inheritance. The financial guardian has to ask the Court’s permission to access trust property and must have an attorney. In other words, it is expensive and avoidable.