Who will take care of your child if you weren’t here? Testamentary guardianship is an important part of succession planning for every parent.
What is a Testamentary Guardian
This is a person who a parent appoints to be their child’s guardian in the event of their untimely demise. The Matrimonial Proceedings and Property Act gives a parent the power to choose this person.
Appointing a Testamentary Guardian
The legislation gives a parent two options. They can either make the appointment in their will or they can choose to do it by registered deed.
In theory, it does not matter if it is by will or deed but an issue arises if the appointment was done by a will which is contested. In that case, the appointment will not take effect until the issues surrounding the will are resolved. On the other hand, if the guardian is appointed through a deed, then even if there were a contested will, the appointment remains unaffected. This is because the deed is separate and apart from any will.
Benefits of Testamentary Guardianship
The main benefit, of course, is being able to choose beforehand who takes care of your child if something happened to you. You are also able to detail any wishes you have about how your child should be raised.
We know that this is a difficult topic to think about but it is an important one. It’s better to put the plan in place and never have to use it than the other way around.
Read more on The Importance of Succession Planning.
Disclaimer: None of the information given in this article is intended to be legal advice. If you have a legal issue, we recommend that you consult with a qualified attorney.