(1) Without surrendering parental rights, any parent who is chronically ill or near death may have a standby guardian appointed by the court for the parent's minor children using the same procedures outlined in this subchapter to establish a guardianship. The standby guardian's authority would take effect as outlined in an order of standby guardianship, upon: The death of the parent;
(2) The mental incapacity of the parent; or
(3) The physical debilitation and consent of the parent.
(4) The standby guardian shall immediately notify the court upon the death, incapacity, or debilitation of the parent and shall immediately assume the role of guardian of the minor children.
(5) The court shall enter an order of guardianship in conformance with this section.