Standby Guardianships and Children

I read an interesting article by fellow attorney Antonia J. Martinez in the New York State Bar Association's Trusts and Estates Law Section Fall/Winter 2012 Newsletter. When parents are planing their estates, they normally consider who will care for their minor children when they are deceased and do not consider who will care for a minor child in the event of their incapacity.  Enter the Standby Guardianship.

As the author explains, a Standby Guardianship is similar in nature to a power of attorney, which grants the appointee, or agent, the authority to manage the affairs of individuals who cannot manage their financial affairs.   In the case of a Standby Guardianship, a parent names a guardian to take care of a child while the parent is incapacitated.  The guardianship lasts for an initial period of  up to sixty days.  At that point, the guardian has to petition the court to be named permanently. The Standby Guardianship is especially helpful for single parents.  It gives a parent some say in who will care for a minor child in the event of his or her incapacity.

If you have any questions about Standby Guardianships or estate planning in general,  please feel to call or e-mail me:

Robert Maher
Law Office of Robert J. Maher, P.C.
52 Duane Street, 7th Floor
NewYork, NY 10007
212-939-7548
RMaherEsq@gmail.com

Time to Think Ahead

The below article recently published in the New York Times shares a startling statistic: 57% adults in the United States do not have a will.  This means that their estates will be settled pursuant to the laws of their state related to intestacy, the situation where a person dies without a will.  The issues the author raises regarding the uncertainty that exists when a person dies without leaving behind a plan or even a list of passwords are very real. 


http://www.nytimes.com/2013/01/12/your-money/estate-planning/shell-tell-you-its-time-to-think-ahead.html?_r=0&adxnnl=1&ref=general&src=me&adxnnlx=1358960496-3zJaAUnPVK6EkO01Ue5esg

If you have any questions regarding the issues raised in the article or have any questions about preparing a will, health care proxy, living will or power of attorney,  please contact me at RMaheresq@gmail.com. for a  free estate planning consultation

Law Office of Robert J. Maher, P.C.
52 Duane Street, 7th Floor
New York, NY 10007