Estate Planning Newsletter

• Types of Durable Powers of Attorney
  If you become incapacitated, who is supposed to make decisions for you about the management of your property or your health care? A durable power of attorney allows someone you designate to act on your behalf. It is usually included as... Read more.
• Facts About Resulting Trusts
  There may be instances where property under a trust is transferred to the wrong beneficiary. This transfer can be corrected through a remedy called a resulting trust or an implied trust. Do not confuse a resulting trust, which is... Read more.
• Estate Planning Under the HIPAA Privacy Rule
  The Health Insurance Portability and Accountability Act of 1996 (HIPAA) became effective on April 14, 2003. HIPAA establishes national standards for the protection of certain health information. The purpose of HIPAA is to ensure that a... Read more.
• Procedure for Removing an Executor or Administrator
  State laws and procedures typically govern the administration of an estate. For this reason, the law varies among jurisdictions. However, in 1969, a “Uniform Probate Code” (Uniform Code) was introduced. Since that time,... Read more.

• Estate Planning and Business Transition Considerations for Year-End Preparations
• Estate Planning Benefits Gain Momentum
• Enjoying the Ride: Estate Planning
• Three Overlooked Benefits of Estate Planning
• Expert advice on digital estate planning

Obligations of a Guardian

In certain cases, a minor may need to be assigned a legal guardian either because a parent is not able to care for the minor, or because the existing guardian is not competent. When a guardian is appointed, he/she will have the same custodial rights as the minor's parent.

Guardians are appointed by a court, upon application or nomination and approval, or the court may select and appoint an appropriate guardian at its discretion.

Types of Guardians

Guardian of the person:

• Provides or arranges for the minor's residence
• Arranges for medical treatment for the minor

Guardian of the estate:

• Manages the minor's property
• Invests the minor's money
• Provides financial support and educational opportunities to the minor

Guardian of the person and estate

• Has the combined powers of the above 2 types of guardians (custody and management of property)

Guardian of specific property:

• Cares for certain item(s) of property belonging to the minor

Guardian ad Litem:

• Appointed for limited, short-term purpose of prosecuting or defending a legal proceeding on behalf of the minor

Guardianship Not Permitted

• A minor cannot have a guardian if he/she is married or has been married
• If the minor has been married but cannot care for himself/herself, a conservator may be appointed

Termination

A guardianship will end upon the occurrence of one of the following:

• The minor dies
• The minor becomes 18 years old
• The guardian dies
• Resignation or removal of the guardian
• A court order terminating the guardianship