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The role of guardianship in estate planning: Protecting minor children and dependent adults

On Behalf of | Oct 18, 2024 | Guardianships

Estate planning is crucial for ensuring continuing care for your loved ones in the event of your incapacity or passing. A key component of this planning is the establishment of guardianship.

Selecting a legal guardian is vital for Minnesota families with minor children or dependent adults. It ensures that someone you trust will manage their personal and financial needs.

This step provides peace of mind, knowing that your dependents will have the support they need, even when you can no longer provide it yourself.

How are guardians chosen, and what duties do they fulfill?

Choosing a suitable guardian involves careful consideration of several factors. Guardians are typically close family members or trusted friends.

To be eligible, they must be competent adults over 18. When selecting a guardian, consider their ability to provide care, financial stability and their willingness to take on the responsibility. The court may also evaluate their health, motivation and criminal history.

Once appointed, guardians have a range of duties, which may include:

  • Managing the personal affairs of the ward, such as healthcare and education
  • Overseeing financial matters if they are the guardian of the property
  • Making decisions that are in the best interest of the ward
  • Providing day-to-day care and support

Guardians play a crucial role in ensuring the well-being and stability of those who cannot care for themselves, providing emotional and practical support.

The legal process for appointing a guardian

The process for appointing a guardian in Minnesota typically begins in the court system. The court appoints a guardian if parents or caregivers pass away or become incapacitated. If you’ve designated a preferred guardian in your estate plan, the court usually honors this choice unless there are significant concerns about the guardian’s suitability.

In cases where a guardian is not pre-selected, the court evaluates potential candidates and decides who is best suited to care for the ward. For minors who receive a large inheritance, the court may appoint a guardian to manage their assets until adulthood.

Engaging an estate planning attorney can streamline this process. An experienced attorney can help you integrate the selection of a guardian into your broader estate planning strategy, ensuring your wishes are clearly documented and legally binding. This proactive approach helps prevent disputes and ensures care for your loved ones according to your intentions.