One of the most exciting things individuals experience is the birth of a child or grandchild. And along with the celebration of new life, comes new responsibilities and important decisions. As such, it is important for parents and grandparents alike to understand some of the things which affect newborn children.How do I incorporate my newborn child or grandchild into my will?
Oftentimes, additions to the family trigger a desire in parents and grandparents to amend their wills. Because so much can be at stake when dealing with wills it is always wise to seek legal assistance. In short, however, individuals generally have two options when it comes to updating their wills:
• Drafting a codicil: A codicil is a document separate from the original will which describes the desired amendments. While executing a codicil is perhaps the easiest method of making simple amendments, it is often not advisable for more complex changes. Codicils are also sometimes advised against because the original will is fully binding if the codicil becomes lost or misplaced.
• Executing a new will: In most instances it is wisest to have a new will executed because drafting a new will renders any previous will null and void. As with executing a codicil, one should never attempt to make amendments without legal assistance.
Should I establish a trust for my child or grandchild?
Because establishing a trust for a child could carry numerous implications for both the child and the trustor, it is particularly important to seek legal guidance before establishing a trust. However, without indicating whether creating a trust is a good or a bad idea, it can be said that there are innumerable possibilities when establishing a trust.
One advantage that trusts have is that assets held in trust generally do not pass through probate upon the trustor’s death. Instead, trust assets transfer directly to the named beneficiaries. The trustor also has complete control over how trust assets will be distributed. For instance, a parent can create a trust solely for a child’s education. Similarly, a grandparent can create a trust which does not release trust assets until the grandchild turns eighteen. These are just two examples of the many variations on trusts. For a more comprehensive description, parents and grandparents should seek legal counsel.
Are there any safeguards I can put in place to protect my children should I become unable to care for them?
Parents should name a guardian to care for their children in the unlikely event that something prevents them from doing so themselves. The place to name a guardian is in a will so it is always best to have legal assistance with this matter. Before consulting with an attorney, parents should pick a guardian out for each of their children. It is best to have one guardian per child, unless it is decided that a married couple will take one or more children, in which case co-guardians would be appropriate.
What are the car seat laws in Arizona?
Children under the age of five are required by Arizona law to utilize restraint devices while in an automobile. Depending on the weight of the child, various safety seats are available:
• Infant Seats: Infant seats are recommended for children up to 20 pounds in weight. This type of seat faces the rear of the vehicle and is generally fastened in the back seat.
• Convertible Seats: Convertible seats are recommended for children between 5 and 40 pounds. This type of seat is handy because it can be used facing the rear of the car when the child is under a year old and less than 20 pounds, and then turned around and positioned upright once the child meets the weight and age requirements.
• Booster seats: Booster seats are recommended for children who are between 40 and 80 pounds. This type of seat can be used for children who have outgrown convertible seats by securing them to the back seat and utilizing the car’s safety belt as a harness.
If a driver is pulled over with a child under the age of five who is not securely fastened in a safety seat, he or she will be ticketed. There is a $50 fine from the state plus any additional fines from the particular city the citation was given in. Once it is all said and done, a citation generally costs around $150.
