FINANCIAL HEALTH FOR WIDOWS
Did you know that the only way to formally designate who will raise your children after you pass away is by designating it in your Will or Trust? For most of us, when our spouse died, this amazing responsibility of raising our minor children became ours and ours alone by a phenomenon called, “operation of law.” A natural parent, unless his or her rights have been terminated or he or she chooses not to, is the default person to raise a minor child upon the death of one parent. But there is no such default provision in place if a child loses both parents.
If you do not designate who you want to raise your minor children while you’re alive, any person can petition the court to be appointed as their legal guardian. Evidence would be presented to the Court by all interested parties and the Court would decide who will raise your children.
If you designate someone in your will or trust, this selection is presented to the Court as the strongest possible evidence of yo…
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