| ADOPTION/GUARDIANSHIP OF DEPENDENT CHILD |
Taking responsibility for a child is an important decision in one's life. As a
guardian, you become the primary person responsible for the child's needs and
progress in life. Not only must you consider the child in
this process, but you must also consider yourself, other family members, and the family environment.
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Benefits Issues
- Legally adopted children, foster children and children who live in your home and for whom you or your legal spouse are the legal guardian are covered by the Health Plan in the same way as natural children. You must complete a new Performer Information Form and provide a copy of the legal adoption, foster or guardianship papers to the Plan Office. The Plan may also require proof that you provide at least half the child's support. This must be done within 30 days of the arrangement in order to ensure Health Plan coverage. Click here to download the Performer Information Form.
- You should review your designations of beneficiary on both the Pension
and Health Plans. You may wish to change your designations to reflect
the changes in your household. Your beneficiary choices are recorded on
the Designation of Beneficiary for Life Insurance Form. Click here to
download the Designation of Beneficiary for Life Insurance Form.
- Review the well child benefits available from the Health Plan. Click here to view the relevant section of the plan summary.
- If you take parental or family leave, your benefit rights may (to a certain extent) be protected by provisions of the Family and Medical Leave Act.
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Planning Notes
Many financial planners recommend that new parents update a number of personal plans and documents soon after the birth of a child. These issues are the same for a parent by adoption or a legal guardian. Here is a list of some of your personal documents and arrangements which you may want to update , revise, or consider.
- Will
- Living Trust
- Estate Plan
- Durable Power of Attorney
- Designation of Beneficiary in your IRA, 401k, Life Insurance, any other program
- Adequacy of Life Insurance
- Adequacy of Disability Insurance
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External related links
(These are listed for your convenience. The sites and the contents of the sites are not sponsored or endorsed by your benefit plans. Use them at your own risk.)
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