There is no doubt that children are the most important and valuable asset for you. New parents have a list of never-ending things to learn to ensure the well-being of their children. With so much to do, writing a will might be the last thing on your list. Just like you protect your car by buying insurance for it, you should also do something to protect your children.
It is painful and sad to imagine, but if something happens to parents, there must be someone to take care of the children. Asking someone to be Godfather and Godmother counts, but the court accepts no verbal promises. You need to appoint a guardian in the Legal Will in Hong Kong to make sure your children are in a safe environment after you. In this blog, let us discuss this topic further.
What Happens to the Children if Both Parents Are No More?
Your children will be protected by social services and placed in a local orphanage. Then, after considering and consulting each one of your relatives, the court will make the final decision. There is a chance your children might end up with the person you don’t want them to be with.
Any disagreements between your relatives mean your children will remain in an orphanage.
Only special visitation rights will be given until the guardian is appointed. In most cases, the child’s Legal guardianship in Hong Kong is given to the father’s family. The best solution is to appoint a guardian of choice to avoid such a situation in the future.
Why Do Parents Need a Will in Hong Kong?
If there is no will, your property and assets are equally distributed between your spouse or children. By not making a will, you are limiting your spouse’s ability to control the asset distribution to the children. Giving children access to money and property at a young age can make them corrupt and lead them down the wrong path.
While writing a will, you can particularly specify the age and milestone your children will get their inheritance. For example, they can get full access to their property at the age of 25 or after graduation. You can also mention the person who can help them control the assets.
Temporary Guardianship or Permanent Legal Guardianship
As the name suggests, the temporary guardian is someone who is not supposed to take care of your child forever. They will be there for your kids if you are not present in the country for a while or if, after your death, your legal guardian needs time to reach Hong Kong.
For expats with no relatives living in Hong Kong, it is important to appoint a temporary legal guardian for their children and draft a will in Hong Kong.
Different Guardianship Scenarios
Single Parents:
If you are a single parent, it is better to make a will and ensure your children are cared for by your trusted friend or family member after you.
Married Couples:
If you are married, everything you own after marriage will go to your spouse, but a legal will can make the process fast.
LGBT+ Couples:
You need to mention your spouse, particularly in the will, as legal guardians of your children because same-sex marriages are not recognized in Hong Kong. So, both partners must have children legally related to them.
Stepparents:
When there are step children and half siblings involved, the division of the property and guardian ship must be clearly written in the legal will in Hong Kong. It will save your family from a lot or trouble and struggle.
Expats:
If someone is living outside Hong Kong making will is compulsory to ensure your wishes about your assets, guardianship and cremation are known as per the law of that country.
Conclusion
We read a lot about different scenarios about legal guardianship in Hong Kong. Court doesn’t recognize God fathers and God mothers but the Deed of temporary guardianship. So, you must consider making it today.
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