If You Are Parents, the Number One Reason to Make a Will.
Do you have minor children? Who will take care of the children if you die? This is the number one reason for you to make a will. Make sure you make a will and have plans for your children’s care if you are no longer around to do it.
By statute, a circuit court must generally appoint as Guardian the person appointed in his or her father’s or mother’s Will. No other document or expression of preference can speak with the authority that Virginia law invests in a properly drawn and executed Will.
A guardian is sort of a substitute parent. There are really two parts to being a guardian: (1) guardian over the child’s person and (2) guardian over the child’s estate. Often, the best person to appoint as “Guardian of the person” of your child is not the best person to appoint as the caretaker of the inheritance you leave to your child. In many cases, it is prudent to name a different, trusted friend or relative as Trustee to hold your children’s inheritance in trust and to pay or apply the income and assets for their benefit.
Thomas A. Leggette, J.D., Author:
Consumer Contracts in VirginiaVirginia Continuing Legal Education