Guardianship: How To Be Prepared Overseas
Published date | 23 July 2021 |
Subject Matter | Family and Matrimonial, Family Law |
Law Firm | Withers LLP |
Author | Ms Sharon Ser |
Safeguarding your children's future
No one wants to catastrophise. However, in these crazy and unprecedented times, it's hard not to think ahead. Especially for new parents, finding the best childcare, purchasing insurance, planning their finances, considering parenting strategies and more, will suddenly become important.
New parents should also consider establishing guardianship for their young children. In the event of any unfortunate circumstances where parents are unable to take care of their children, such as the prolonged absence, death or mental illness of one or both parents, appointing the right legal guardian will safeguard your children's future.
Without a formal appointment of a guardian, when neither parent is able to care for their children under the legal age of 18, the Hong Kong court will become their de facto guardian. Things can get messy if family members compete to look after the children, which may be detrimental to their wellbeing. No parent wants their children taken into care, especially if there is a loving and competent friend or family member who is able to look after them. This scenario can be avoided simply by appointing a guardian early.
Documents & benefits
Legal guardianship is recognised when appointed as part of a will or through a separate document called a deed of guardianship. There are different benefits to both options:
A will
Enables the appointment of a testamentary guardian and all consequential financial arrangements, which are crucial. Through a will, parents can channel sufficient funds to their children's living and education expenses and arrangements. With everything written down in black and white, arguments and uncertainty are avoided at a time of grief, leading to a smoother guardian transition.
A deed of guardianship
Is made by appointing a guardian or guardians for...
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