No Will, No Say? What Happens to Your Children if You Die Without a Plan
No one likes to think about the unexpected, but it’s vital to consider what would happen to your minor children if you were to pass away suddenly. In Ohio, failing to create a clear plan can leave you with little control over who raises your children. Unfortunately, this can lead to outcomes that may not align with your wishes.
The Court Steps In
If you don’t nominate a guardian in a legally valid will, the probate court will appoint one for you. While the court strives to act in the best interest of your child (considering factors like the individual’s relationship with the child, stability, and ability to provide a nurturing environment) decisions are made based on the information available. This means your minor child could end up with someone you wouldn’t have chosen simply because there was no clear directive from you. Additionally, disagreements among family members can lead to legal battles and emotional turmoil during an already difficult time.
By naming a guardian in your will, you have the opportunity to select someone you trust, who shares your values, and who is prepared to step into that critical role.
Managing Your Assets
When a parent dies without a will in Ohio, state laws dictate how assets are distributed. While your children may inherit your estate, they cannot manage those assets until they reach adulthood. Instead, a court-appointed guardian of the estate will oversee the funds on their behalf.
This guardian will be responsible for making financial decisions until your child turns 18. Major financial choices may require court approval, which can delay access to funds needed for everyday expenses, education, or other essentials. Once your child comes of age, they will receive their inheritance outright, with no guidance or support.
Incorporating a trust document into your estate planning lets you maintain control over your assets, not just during your children’s upbringing but also throughout their adult lives.
Take Charge of Your Family’s Future
Creating a comprehensive plan is an essential step in safeguarding your child’s future. Without it, a judge will make crucial decisions regarding your child’s care and financial well-being.
If you want to decide who will raise your children, a will grants you that power. Don’t leave such important matters to chance or to the discretion of the court. Start planning today to ensure your wishes are honored and your children are protected.