“How to Choose a Guardian for your Children”

Contact:  Sabrina Winters

Phone:  (704) 843-1446

Email:  swinters@sabrinawinterslaw.com

With the stores crowded, traffic horrendous and holiday parties in full swing, the period between Thanksgiving and New Years Day is undoubtedly one of the most dangerous travel times of the year.  Charlotte lawyer, Sabrina Winters, urges families to be prepared by making necessary updates to their will, trust or other estate planning documents prior to the hustle and bustle of the season.

Charlotte, North Carolina – It is that time of the year again where the stores are packed, traffic is horrendous and holiday parties are in full swing.  And no matter what holiday you celebrate, this is certainly not the safest time to be out and about on the roads.

Between Thanksgiving and New Year’s Eve in 2002  alone, alcohol related crashes killed 1,561 people. That does not even account for the people who were simply injured or incapacitated for any length of time from their injuries.

According to Charlotte estate planning lawyer, Sabrina Winters, the holidays are the perfect time to make sure your will, trust or other estate planning documents are updated so your family stays protected should something unexpectedly happen to you.

“The holidays are a really smart time to make sure your estate plan is exactly how you want it to be should something unexpectedly happen to you and/or your spouse,” says Sabrina Winters,  ”Without an updated estate plan, your children could be left at the mercy of the courts, your assets in limbo and your physical or medical wishes may not be honored in the event of an accident,” Sabrina Winters adds.

Specifically, Sabrina Winters offers four things to consider when updating your estate plan prior to the holiday season:

1. Guardianship nominations:  Have you named guardians to care for your children if something happens to you?  Have you made sure those guardians will have the financial resources to care for your kids in your absence?  Are you even happy with the people you originally chose to care for your kids?  Sabrina Winters says if you answered no to any of these questions, it is time to pull your plan out of the drawer and make a few key changes.

2.  The effect of marriage, divorce or remarriage:  Is your ex-spouse still set to get half of what you own according to the directions of your prior estate plan?  If so, according to Sabrina Winters it is time to update!  Sabrina Winters recommends reviewing your plan carefully to make sure your beneficiaries are exactly as they should be in case something unexpectedly happens to you.

3.  Are your assets owned properly in the name of your trust: If you have a trust, Sabrina Winters says now is a great time to take an inventory of your assets and make sure they are owned properly in the name of that trust.  This is one of the most common reasons an estate plan will fail at the end of a person’s life.

4.  Do you have medical directives and POA’s if you are incapacitated?  If you are incapacitated in an accident but do not die, Sabrina Winters advises that you will need clear medical directives and power of attorney forms so someone you trust can make medical and financial decisions until you are able to speak for yourself.  If medical directives and POA’ were not included in your original plan, speak with a qualified attorney to have them drawn up before the hustle and bustle of the season starts.

“An updated estate plan is the greatest gift you can give to your family over the holiday season, ” says Sabrina Winters.  ”It is the only way to make sure your children, assets and wishes will stay protected should something happen to you during this dangerous time of the year.” Sabrina Winters adds.

For more information about Sabrina Winters, please visit www.ncestateplanninginfo.com or call (704) 843-1446.

Bio:

Sabrina Winters has been assisting clients with all their estate planning needs for over ten years. As a woman, a mom, a wife and business owner, she brings her personal experiences as well as legal experiences to her clients.  Regardless of what stage in life you are or your asset level, Sabrina Winters has the experience and skills to plan for your particular needs.

A Guardian is named in a Last Will and Testament or a Living Trust.  He or she essentially is nominated to raise the chid or children and make parental decision until the age of 18.

A Trustee is appointed to manage the assets held in a Trust for essentially anyone.  A Trust can be created for a minor child or an older child and especially a child with special needs.

Either appointment comes with big responsibilities and the person being appointed should be responsible enough to carry out those responsibilities.

“Guardian v Trustee”

Youth is often used as an excuse for putting off doing a Last Will and Testament or a Living Trust.  The thing is, that estate planning is not just about planning for your death; it also includes planning for yourself personally in the event you experience an incapacitating injury and are unable to make your own financial or medical decisions.  While the odds are certainly in your favor that you will not need an estate plan (we are all invincible when we are young!), you should still consider these four scenarios…

1.  You need a plan in the event that you become disabled or incapacitated.

Unfortunately tragedies happen every day, many of which are out of our control.  And you are not immune to them because you are young.  Just turning on the local news will be evidence of that.  If something happens to you and you are no longer able to make decisions regarding your own financial, legal, and medical affairs you will need to make sure that there are basic documents in place (such as a medical directive, power of attorney and HIPAA authorization) so someone can make life decisions for you.

2.  You need to pass your assets.

You might be asking, “What assets?”  Even if you do not yet own your own home, you need to consider IRAs, retirement accounts and life insurance policies offered through your employer. You need to make sure that beneficiaries are named in the right way so that the people you want to leave them to get maximum benefit.

3.   You need to name guardians for your kids.

If you have children, you simply must name guardians.  You should be the one who decides who will raise them if you are no longer around.  You do not want this decision left to squabbling relatives or to a court system that doesn’t know you, your child or your family dynamic.  You might be thinking that everyone in your family loves your children, that there won’t be any problems.  If they all love your children, they will all probably want to raise them, right?  If they all want the same thing, this will have the potential of becoming a battle…do you want your children to be put through that after having lost their parents?

4.  You need to plan for your pets.

If you have a pet, chances are they are a big part of your life.  They are totally devoted to you and also totally dependent on you.  Have you stopped to think what might happen to them if something were to happen to you?  If you want to make sure your companion is cared for if the unexpected happens, you could choose to put together a plan for their continued care.  The plan may include directions about feeding, medical care and other needs along with funds necessary to provide for your pet’s support and to compensate the caretaker.

The scenarios above are just a few to consider when educating yourself on the importance of having a Last Will and Testament or a Living Trust.  I encourage you to talk with a Charlotte, North Carolina wills and trusts lawyer.  Only then will you have the peace of mind of knowing that you are fully protected.

When presenting to a group of younger families many of the questions are geared towards children, guardians and long term planning.  At my presentation on Saturday, most of the questions were related to:

1.  Can’t I just add my child’s name to my accounts?

2.  Isn’t a trust for people who have a large estate?  We don’t have much anymore as a result of the bad economy.

3.  Can we leave gifts to our grandchildren in our Wills?

These are all issues that pertain more specifically to individuals in their age range.  They are thinking about the grandchildren they already have and how a Generation Skipping Tax works.  They are thinking about the ultimate effect of having added their son or daughter to a bank account because they lost their spouse and wanted to make certain they had someone else in place to help.  They are trying to adjust their ways of living after having taken a big loss on their 401K and IRA or their home when they sold it.

Although these are questions that younger individuals may be thinking about now, they are not immediate current concerns as they are with an older, retired community.

Planning isn’t something you do once; it is an evolving plan that changes with your age, your needs, your concerns, your personal family situation and the continuous changes in federal and state tax laws.

If you have a plan in place and have not reviewed it in the last 3 years or if you don’t have a plan, contact us at (704) 843-1446 and we will guide you in making the best choices for you and your family.

Michael, as Terri’s guardian, had entered a do not resuscitate order for her but was convinced by the nursing home staff to have it rescinded; in 1998 he petitioned the Sixth Circuit Court of Florida to remove her feeding tube. He was opposed by Terri’s parents, Robert and Mary Schindler, who argued that Terri was conscious. Michael later transferred his authority over the matter to the court, which determined that Terri would not wish to continue life-prolonging measures.

The local court’s decision to disconnect Schiavo from life support was carried out on March 18, 2005, and Schiavo died of effects of dehydration at a Pinellas Park hospice on March 31.

This case stands as the representative example of why having an advanced medical directive plan in place is so essential. Regardless of what beliefs you may have regarding the final outcome of the case, the lesson to be learned from this tragedy is that the only way to prevent such a situation is to plan. The only way to prevent a court from interceding in such a decision, is to have a documented plan in place.

Unfortunately, human nature compels us to wait until it is too late to put such a plan in place. “That can’t happen to me”, syndrome runs rampant. When coupled with the belief that, “talking with an attorney about these issues is just too expensive”, a perfect storm is created that leads to many people into tragic situations like Terri Schiavo’s.

The truth is that with some basic planning, these types of tragedies can be avoided. Furthermore, putting advanced medical directives in place doesn’t have to be cost prohibitive. Many of my clients are surprised to learn just how easy and affordable setting up some basic health care directives can be. I am happy to discuss your specific situation with you by phone.

The NC Administrative Office of the Courts offers its Responsibilities of Guardians in North Carolina, to help people understand their role as guardian in North Carolina.

This pamphlet is provided as a public service to assist persons who have been or are about to be appointed guardians in understanding their duties, responsibilities and role. It is not meant as substitute for legal advice. You should contact a North Carolina estate planning attorney should you have any legal questions about the role of a guardian.

I can tell you how bad the results could be, but I thought you could read for yourself a true story posted by attorney Jeffrey A. Cramer in Florida on how bad the results actually were.  If you have children, I will bet that you won’t even think about a “do it yourself” Estate Plan after you read below.

“Another Horror Story From the Real World”

Why is it a bad idea to do your own planning?

1.  Pre-printed or fill in the blank forms are created to be user friendly by the majority of the people who use them; they are not created especially for you.  Our Firm will create each document for you based on your particular needs and wishes.

2.  Pre-Printed or fill in the blank forms ask everyone the same questions each time.  Our Firm asks alot of the same questions from client to client because it is necessary. But, after that, we follow up with individualized questions based on an intimate fact finding meeting where we get to know you as clients, parents, couple, etc.

3.  Pre-Printed or fill in the blank forms will not ask you detailed questions about the personality of your children; what they enjoy doing; their health issues if any, etc.  Our Firm asks many many questions about your children because we know that your children are an important part of your life and you want to do the best planning for them so they are well taken care of after your death.

4.  Pre-Printed or fill in the blank forms will not discuss with you what to think about before appointing an Executor, Trustee or Guardian. You will not be told that it is probably not a good idea to appoint a brother and sister-in-law as the Guardians of your children.  Why?  They could get divorced!

5.  Pre-Printed or fill in the blank forms may not include the proper witness sections or notary language that are required to be included to be a valid North Carolina Last Will and Testament.  North Carolina requires two witnesses to every Last Will and Testament.  Will you know that you need to sign it and the witnesses need to see you sign it? Probably not because the form will not tell you that.

What I believe to be the biggest most important reason why you should never draft your own Estate Planning documents…you do not get the counseling, planning and experience from a licensed Estate Planning Attorney that will create a comprehensive Estate Plan based exclusively on your personal family situation, beliefs, wishes and concerns.  Using our Firm, you will get an Estate Plan that will work when you need it to work…after your death.  Can you be so sure your “Do it Yourself” Estate Plan will? Do you really want to take the chance?

1.  I have made appropriate legal arrangements to appoint the person or persons I want to make my personal, health care and financial decisions should I ever become disabled.

2.  I have made appropriate legal arrangements to appoint the person or persons I want to raise my minor children to adulthood should they become orphaned.

3.  I have made appropriate legal arrangmements to protect any inheritance I may leave both for and from my children, realizing that it can be taken through their potential divorce, lawsuits or bankruptcies…or lost through squandering.

If you answered “no” to any of the above, then YOU need a comprehensive estate plan.

You will notice that there aren’t any questions regarding how large or small your estate is; It does not matter.  It only matters when it reaches the taxable limit (which in 2009 is $3,500,000).

You will also notice there aren’t any questions regarding whether you are married, divorced or single.  There are issues that need to be dealt with no matter what your marital status is.

We cannot know when we will die, but we can plan as much as we can when that time comes.  Call our offices to find out how we can assist you with planning your estate so you can plan today for your family tomorrow.