Guardians for Children

If you have children, once or twice every year or so you may have a minute of quiet reflection. In that excessive downtime, you may find yourself wondering who would take care of those precious bundles of concentrated energy if something happened to their parents. 

Those blessed to reside in the Utopian State of Illinois can control their own destiny with that determination. (Nobody tell Mike Madigan we are still allowed freedoms and have money that is not paid over to the State.) 

The Probate Act allows a parent to designate, in writing, who they would like to act as Guardian of a minor child if the minor child does not have a living parent. This written nomination must follow certain formalities, and including it within the terms of a Last Will and Testament meets those formalities. 

The laws of the State differentiate between a Guardian of the Person and a Guardian of the Estate.  The Guardian of the Person essentially steps into the caretaker role of a parent. This would be the person who takes the kids to school, feeds them, clothes them, bathes them (more accurately, argues with them until they finally surrender and take a bath), takes them to the doctor, etc. The Guardian of the Estate handles any assets that the minor owns, inherits, or comes to own until they reach the age of majority (18). There is another law that allows a Guardian of the Estate to hold assets until the minor attains the age of 21, but that is a topic for another day. 

A parent can nominate the same individual to act as the Guardian of the Person and Estate, or they can nominate different individuals for each position. For example, Aunt Suzie may be a wonderful caretaker of the children, but she would probably manage to spend the minors' inheritance before they attain the age of...tomorrow. In that scenario, a different nomination for the Guardian of the Estate would probably be smart.   

Whenever I draft a Guardian designation in a Will, it is always my hope that it will never be necessary. However, in this uncertain world, there is some peace of mind in having at least made the nomination, just in case.