Legal IQ Tips: Estate Planning
Have a new child?
If you have a Will, it’s time to update it. If you don’t, it’s time to get one.
I always advise new parents that it’s important to get a proper estate plan documented.
In Rhode Island, if both parents are to pass away, or become incapacitated rendering them no longer able to care for their child, the child would be left “guardian-less”. Laws here do not automatically govern who the child’s guardians would be.
What that means is that whomever would want to become the child’s guardian would need to go to court and petition for legal guardianship. For example, if the maternal grandparents wanted to become the legal guardians, they’d have to file with the court. That is a long, expensive and emotionally draining process.
Even scarier there is no guarantee that the maternal grandparents would be awarded legal custody. Think of the situation where the family and child lives in RI and attends RI schools, with the maternal grandparents living in Maine. The judge may rule that it is in the best interest of the child to stay in RI with the schools and friends they are accustomed to, and therefore the child needs to stay with another family member.
Now, mix in a possible custody battle between two siblings, step grandparents, or maternal and paternal grandparents. You can see how this can all get very messy and expensive.
The simple solution, is for the parents to make a plan beforehand and document this in their estate plan.
If you are a new parent in RI and are interested in making your estate plan, please feel free to reach out to me. Wills & Estates is an area of law I focus my Providence based practice in.
Have a Happy and Healthy Thanksgiving.
