I use to think that a pandemic was just something I learned about while in high school during my United States History II class and could never happen during my lifetime; but in 2020, that foolish assumption was proven incorrect. No matter what you decide to call this disease, COVID-19 is here and it does not look like it is going away any time soon.
Clients have reached out to me and have asked, “How do I protect my family if I am one of the unlucky ones that acquire COVID-19 and something happens to me?” The instant thought that comes to mind is “I need to create a will.” Of course you can and should draft a formal will to avoid potential familial issues.
However, for some people there are more important aspects of life rather than money. For example, parents with children under the age of 18 and what will happen to their children. This is scary to think about, but it is something every parent needs to prepare for, especially in the COVID-19 world. The normal answer clients provide is “my spouse or significant other will take care of the kid(s).” Now image if both of parents get COVID-19 and the worst happens to both parents.
Now you are probably thinking the grandparents or my brother/sister will get the kids. I hate to break the news to you, but that is wrong. The State will come in and place the kid(s) with a foster family until they can sort out this issue. This will not be a short 1 or 2 day stint with the foster family; it could take months to sort out this custody issue.
This scenario is more common than most people think. Attorneys would recommend placing the name(s) of the guardian(s) in your will. However, the children will still be a ward of the State until the will is probated. This process can take some time as probate has changed since COVID-19.
So how does one go about protecting their minor kid(s) and ensuring the kid(s) never spend a moment away from someone they know? The parent(s) should draft a guardianship plan that can go into effect immediately. This plan establishes the guardian of the kid(s) and avoids unnecessary State involvement.