Tuesday, February 10, 2009

Wills are not just for old people

Tragedy occurs, a young family is involved in a serious automobile accident and the parents of three young children are killed. The three children survive but what will happen to them? Arizona, like many other states, if the deceased parents did not have a Will, the Court can appoint anyone, even an unrelated person, if the Court finds that the appointment is in the "best interests of the minor." (See A.R.S. 14-5206). The Court can also appoint a conservator to administer the estate inherited by the minors.

But, if the parents had Wills, they could appoint their own choice for guardian and conservator of the estate. Absent a will, the choice is left to the judge.

This scenario is only one of many that could occur to a young couple if they fail to plan adequately and each have a Will. This situation could become even more difficult if the children were from a prior marriage and the previous spouse sought custody of the children. Things could get really interesting if one of the parents, the non-biological parent, is the one to survive such an accident.

Wills cannot solve all of the problems that occur by reason of untimely death, but failure to properly provide for your family can have serious consequences. You may wish to give me a call and discuss the need for a Will.

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