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Where There's a Will...
Safeguarding Your Child's Future
By Melissa Granberry
Before sitting down to prepare your will, it is a good idea to become familiar with some of the terms and concepts.
Guardian
A guardian is the person selected to raise the children if both parents die while the children are still minors. Without a will, the court will choose the guardian depending on state law. "If there is no will in place, it basically means you are going to court no matter what," says Shari Odenheimer, an estate-planning attorney at Cozen O'Connor in Pennsylvania.
"For example, state law might say that grandparents are first in line to raise the children," she says. "If there are two sets of grandparents, you are guaranteed a court fight, which also means hurt feelings." Odenheimer explains that not only would the grandparents have to prove how wonderful they would be raising the children, they also have to show that the other set of grandparents would not do as good of a job. "The grandparents may never speak again, and the children may miss out on the opportunity to have both sets of grandparents in their lives," she says.
Kotzer suggests naming one person (usually a blood relative) as opposed to a married couple. "What happens if after your death, your sister and brother-in-law get divorced?" Kotzer says. "There could be a custody battle over your children. If you only name your sister as guardian, she has custody regardless of what happens."
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