Page 18 - The Jewish Voice - August '23

Page 18, The Jewish Voice

Lifestyles from page 17
simchas income planning – and the better your plans, the more In this document, you can name someone to be your

you’ll be able to enjoy your life as a retiree. This article child’s guardian after your death, a person to wind up
was written by Edward Jones for use by your local Edward your affairs (executor or personal representative), and
Harper Chane Jones Financial Advisor, Edward Jones, Member SIPC. people to receive your money and property, along with
Edward Jones is a licensed insurance producer in any instructions. Similarly, you may use a pour-over will
Harper Chane is a all states and Washington, D.C., through Edward D. to name a guardian for your child upon your death. A
seventh grader at Palm Jones & Co., L.P., and in California, New Mexico and pour-over will also allows you to name your trust as the
Beach Day Academy. Massachusetts through Edward Jones Insurance Agency beneficiary of any money and property that goes through
He is known for his of California, L.L.C.; Edward Jones Insurance Agency of the probate process. Lastly, Florida authorizes you to
enthusiasm for life and New Mexico, L.L.C.; and Edward Jones Insurance Agency nominate a guardian for your minor child in a separate
his awesome hair! He of Massachusetts, L.L.C. document. Some people prefer the separate document
loves baseball, and he Edward Jones, its employees and financial advisors because they can change guardians without having to
recently returned from cannot provide tax advice. You should consult your update their entire will or pour-over will.
Cooperstown, NY, after qualified tax advisor regarding your situation. How Do You Name Someone to Step in When
playing in a tournament Contact us at (561) 748-7600, Sally Sima Stahl, AAMS, Emergencies Arise?
against kids from around 1851 W. Indiantown Road, Ste. 106, Jupiter, FL 33458. While an estate plan usually focuses on planning for
the country. Besides your death, it is also important to plan for the situation in
baseball, there is nothing Are You Single with a Minor which you are alive but unable to act or make decisions
he would rather do than play golf. Many times a week, Child? If So, You Need a Plan (called being incapacitated), including naming someone to
he can be found playing a round at North Palm Beach temporarily care for your child. In addition to delegating
Country Club. Harper will celebrate his Bar Mitzvah at Part 1 of 2 your parental authority when you are unable to act, this
Temple Judea on August 26. document can be used if you are traveling and need
By Anné Desormier- someone to make decisions for your child. It is important
Send us your simchas! The Jewish Voice welcomes Cartwright, Esq. to note that this document is only effective for a short
announcements of life-cycle events in the local Jewish You have a minor child period (six months in some states), and your chosen
community. The copy deadline is the 15th of the month. who depends on you for person cannot agree to certain actions, such as the child’s
Send text and images to bernstein.wendy@gmail.com. their survival, so you need adoption or marriage.
to make sure that they will Although state law will provide your child with a
be cared for if you are ever guardian, someone to manage their inheritance, and a
unable to care for them. distribution plan for their inheritance, this is the least
By creating an estate plan, desirable result. You have the power to design an estate
you can address your minor plan that is unique to your child’s circumstances and
child’s care and custody allows you to choose the most trusted individuals to guide
and provide instructions them if you are no longer able to. Next month we will
about how your money and property should be used for address providing for inheritance for children, especially
their care should something happen to you. minor children. We would love the opportunity to help you
Care and Custody of Your Child create the best plan for you and your child or to update
Creating an estate plan allows you to name someone your existing plan. Call us to schedule an appointment.
to care for your minor child if you are unable. A child Call our office today at (561) 694-7827, Elder & Estate
under the age of majority (18 in Florida) cannot legally Planning Attorneys PA, 480 Maplewood Drive, Suite 3,
care for themselves (unless they have been emancipated). Jupiter, FL 33458.
A guardian must be appointed to take care of the minor The content of this article is general and should not be
child if both parents have passed away or are unable to relied upon without review of your specific circumstances
care for the child. It is important to note that if the other by competent legal counsel. Reliance on the information
legal parent is still alive, that parent may receive custody herein is at your own risk, as it expresses no opinion by
of the child (assuming custody rights not removed, not the firm on your specific circumstances or legal needs.
incarcerated, etc.). However, you need to have a plan An attorney client relationship is not created through the
in case there is no other legal parent or the other legal information provided herein.
parent cannot care for the child. If you do not choose a To comply with the U.S. Treasury regulations, we must
guardian, the judge will look to state law to determine inform you that (i) any U.S. federal tax advice contained
the appropriate guardian, who may not be the person you in this newsletter was not intended or written to be used,
would have chosen. and cannot be used, by any person for the purpose of
How Do You Nominate a Guardian? avoiding U.S. federal tax penalties that may be imposed
There are a few different ways to nominate a guardian on such person and (ii) each taxpayer should seek advice
to care for your child after your death. First, it can be from their tax advisor based on the taxpayer’s particular
done in a last will and testament (also known as a will). circumstances.

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