Parents play a fundamental role in the life of a minor. They are responsible for their child’s physical, emotional and mental well-being. Unfortunately, however, there are some rare situations in which the parents of the minor have died. Unfortunately, it’s even likelier now that more and more people are dying from the pandemic.
Death Rates in the United States
The death rates in the United States have increased since the pandemic hit. For example, the death rate climbed by 18% in 2020 because of COVID-19-related deaths. In 2019, the death rate was 8.2 per 1,000 people, and in 2020 it increased to 9.7 per 1,000 people. This is the most significant annual increase in the death rate since 1950. It is estimated that around 3 million people worldwide will have died from COVID-19 by the end of 2020.
COVID-19-related death can be the most common among families and can easily take a minor’s parents away. That’s why many people have been thinking about what would happen if they were to die from the virus.
There are a few different things that can happen when the parents of a minor die. Sometimes, the grandparents or other relatives can take custody of the child. If no relatives can take custody, the child may be placed in foster care. Let’s go through all the possibilities.
Guardianship
When the parents of a minor die, the child will need a guardian. The guardian makes decisions about the child’s care, education, and welfare. They will also be responsible for managing the child’s finances and property.
A guardian can be either a family member or a non-family member. If no relatives can take on the role of guardian, then the court will appoint a non-family member. Then, the court will try to select someone suitable and willing to take responsibility. Usually, if a person wants to become a child’s guardian, they need the help of an experienced guardian attorney. These attorneys are responsible for filing the necessary paperwork and representing the person in court.
Foster Care
If no one can take on the role of guardian, then the child may be placed in foster care. Foster care is when a child is cared for by someone other than their parents. The state usually licenses the foster parents. They undergo background checks and training.
Foster parents provide the child with a temporary home until they can be placed with a permanent family. The goal of foster care is to provide a safe and nurturing environment for the child while their situation is resolved.
Inheritance
When the parents of a minor die, the child will inherit their property. The property will be distributed according to the wishes of the deceased parents. The property would be distributed according to state law if the parents did not leave a will.
The child will also inherit any money in the parent’s name. This includes money in bank accounts, investments, and life insurance policies. The child will need a guardian to manage this money until they turn 18.
Knowing these things, you might worry about such an event. It’s something that most parents fear, even though it’s quite unlikely. However, it doesn’t hurt to prepare for it. The first step is to have your will and estate ready.
Preparing Your Inheritance
A will is essential if you want your assets to go to specific people when you die. If you die without a will, your state’s laws determine who gets your property. This may not be what you would want.
You should also name a guardian for your minor children in your will. This way, you can be sure they will be taken care of by someone you trust if something happens to you.
You should also have life insurance. It can help take care of your family financially if you die.
Making these preparations can give you peace of mind in knowing that your family will be taken care of if something happens to you.
Leaving Your Legacy
No one likes to think about their death. However, it’s essential to be prepared for the worst. If you have minor children, you should ensure they will be taken care of if something happens to you. You can start by finding the proper guardian for your child, and they don’t have to be a family member.
You can also have your will and estate ready, so your child inherits what you want them to have. Finally, you should have life insurance to help care for your family financially if you die. These preparations will give you peace of mind in knowing that your child will be taken care of if something happens to you.
