Responsibilities of a Guardian in Estate Planning
Started by TEA ENG PENG
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TEA ENG PENG
Most couples procrastinate in writing a will because they cannot decide on a guardian for their young children. A guardian is an important figure in the will. This is especially so for a single parent, and for divorced couples with children.
A guardian will step in to take care of your young children if you and/or your spouse die pre-maturely. Your appointed guardian will gain custody of your children and will help to take care of them. He/she will also manage your estate before the eventual transfer to your children when they reach adulthood. In Singapore, the Guardianship of Infants Act provides the laws for guardianship.
A guardian can be anyone who is an adult and is of sound mind. In a more sentimental sense, a guardian should also be someone whom you and your spouse trust, someone who loves your children, and someone who is able to exhibit maturity and discipline in money management.
0 points
TEA ENG PENG
Most couples procrastinate in writing a will because they cannot decide on a guardian for their young children. A guardian is an important figure in the will. This is especially so for a single parent, and for divorced couples with children.
A guardian will step in to take care of your young children if you and/or your spouse die pre-maturely. Your appointed guardian will gain custody of your children and will help to take care of them. He/she will also manage your estate before the eventual transfer to your children when they reach adulthood. In Singapore, the Guardianship of Infants Act provides the laws for guardianship.
A guardian can be anyone who is an adult and is of sound mind. In a more sentimental sense, a guardian should also be someone whom you and your spouse trust, someone who loves your children, and someone who is able to exhibit maturity and discipline in money management.