Anything left directly to a minor child sits. It cannot be used. It cannot be touched. The guardian has to petition the court for access and prove the need. And if there is no plan, someone will raise a hand and say the parents are gone, I am next in line, I am willing. Their intentions could be good. They could be not so good. You want to know who that person is, and you want it to be your decision.
What I Said
From my September 10 Parents Edition workshop at the Cambria Hotel in Calabasas, lightly edited for readability.
It cannot be used. It cannot be touched. You have to petition the court to have access to it, and you have to prove the necessity, and not you, the guardian who will take care of it.
Yes, we spoke about that. And just imagine, if you don't have a plan, that someone will have to raise their hand and say, "Hey, I want to take care of this kid. Parents are gone. I'm next in line, and I'm willing." Intentions could be good, could be not so good, and you cannot rely on what's going to happen. You want to know who that person is gonna be, and that it is your decision.
The full talk, written down: Who Picks Up Your Child From School if You Never Come Home?
More on this topic: Living Trusts
More From the Workshop
- Help Your Children. Do Not Sponsor Them.
- The Documents, in 26 Seconds
- Why I Fell in Love With Trusts and Estates
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