In addition, the child form shouldn't know or care about the parent form. I'd reverse the process. Have the parent form create an instance of the child form, display it as a modal form, then when it closes, it closes. Then the parent form asks the child form for the value. The Child form shouldn't force the value to the parent, the parent should ask the child for it.

frmComponentEditor
Code:
dim f2 as New Form2
f2.ShowDialog
lblDesc_1.Text = f2.DescText
form2
Code:
Friend ReadOnly Property DescText as String
  return lblWireType.Text
End Property
Something along those lines.

-tg