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Wednesday, May 20, 2015

Sam And Rose All Grown Up

We have spent several months considering issues that Ray and Liz needed to think about when choosing who should serve as guardian of almost-one-year-old Sam and his big sister Rose, who recently had her 5th birthday. 

Of course, we couldn’t just leave them at such a young age.  After all, estate planning is about thinking into the future at what might be…  So we aged Sam to age 20 when he would no longer have a guardian.  Then, he married Eve, who looked like a disaster to his parents and sister. 

Serving as guardian is only until 18.  Serving as trustee of their inheritances can go far beyond that young age.  It was crucial for Ray and Liz to think beyond the guardian role and consider the role of trustee, who would protect Sam and Rose’s inheritance ‘safety net’ from their parents.  

Sometimes the person who serves as guardian is the same as who serves as trustee.  For Ray and Liz, it was better to have Liz’s sister serve as guardian and one of Ray’s close friends serve as trustee. 

Our crystal ball is murky, but careful planning can go a very long way in helping those we love if the unthinkable happens and death comes far too early for us as parents.

To consider ways to protect your own family in your Will and estate plan, please call our office at (815) 436-1996 for an appointment.

©2015 Gruber Law Office, Ltd.


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