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Understanding different guardian types can be beneficial

On Behalf of | Oct 26, 2021 | Estate Planning

Ensuring that your minor child or a disabled adult currently living with you has a guardian to look after them if you pass away is essential. You can also choose a guardian to look after a pet after you perish. Knowing the difference between the types of guardians in Texas is necessary to choose the best one. Here are four common designations to consider.

Personal guardian

One of the first guardian types to consider if you’re a parent of a minor child under 18 is a personal guardian. They typically have the same responsibilities you have as a parent. If you’re married and pass away, your spouse should take custody of the child. However, if you both pass away, the state will nominate a guardian if you haven’t chosen one.

Financial guardian

Naming a financial guardian in conjunction with the personal guardian is also an option. In this scenario, a financial guardian, also known as a property guardian, has the legal authority to manage the property and money belonging to your minor child. Typically, the same person is chosen as a personal guardian and financial guardian.

Pet guardian

Pets can be part of your family as many individuals love them just as much as a child. While the legal system doesn’t have a way for you to designate a pet guardian officially, you can name a person responsible for their care in your will. Doing so is completed easiest by naming an individual to take care of your pet.

Conservator

In some states, a conservator is placed in the role of managing the property and finances of your minor child or a disabled adult living with you. This person has the same characteristics as a financial guardian. You can seek to better understand the rules and regulations associated with this designation during the estate planning process.

Knowing your options to help ensure your loved ones are taken care of properly after you pass away is critical. You have their best interests in mind and want to provide for them even when you are no longer around to do so.

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