Legal Question in Wills and Trusts in New York

Re: Guardianship of Child in the Event Parents are Deceased

Every adult should have a will. People with children should specify in their will who shall be guardian of their minor children and how the estate shall be distributed. These matters are important as the state will decide if you do not direct disposition.

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Best of Luck

R. Bartel

Re: Guardianship of Child in the Event Parents are Deceased

You need a simple Will for each parent that sets forth who is to have guardianship of minor children if both parents are deceased. Also, you might want to include in your Will specific trust provisions for how your assets are to be used while the children are minors and when the children will be able to receive the assets after they become adults. It is not necessary that the guardians and trustees be the same people. I have many clients who have trustees (money handlers) who are different than the guardians. Other questions can also be dealt with such as whether the children stay in their home with the guardians moving in, go to the guardians residence (and what happens if the guardian's home needs to be expanded to provide for them, etc.)

I suggest contacting an attorney familar with Wills and Trusts (such as I), who can review your situation and make recommendations to include in your Will. If you want to talk about this for a few minutes, call me at (973)-377-3313 and I will be happy to give you some ideas to consider.

Walter