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Both guardianship and custody describe legal relationships between an adult and a child. Custody refers to a child’s biological parents, whereas guardianship would be given to a non-biological ...
Child custody is a legal term regarding guardianship which is used to describe the legal and practical relationship between a parent or guardian and a child in that person's care. Child custody consists of legal custody , which is the right to make decisions about the child, and physical custody , which is the right and duty to house, provide ...
In the decades leading up to the 1970s child custody battles were rare, and in most cases the mother of minor children would receive custody. [5] Since the 1970s, as custody laws have been made gender-neutral, contested custody cases have increased as have cases in which the children are placed in the primary custody of the father.
A guardian with responsibility for both the personal well-being and the financial interests of the ward is a general guardian. A person may also be appointed as a special guardian, having limited powers over the interests of the ward. A special guardian may, for example, be given the legal right to determine the disposition of the ward's ...
For example, a special guardian may be granted the legal authority in Korea to decide how to handle the ward's assets without being granted any control over the ward's person. Specified guardian (특정후견인): A specified guardian is a person appointed to represent a person's interests in relation to a particular court proceeding or process ...
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
In joint legal custody, both parents share decision-making rights with regard to matters that may have a significant impact on their children's lives, such as where a child should attend school, the choice of a primary care physician or therapist for the child, and medical treatments. [6]
Caring for aging parents or for special needs children or other relatives can add new dimensions to your estate plan. There are various legal and financial issues that may need to be untangled and ...