When working on your will and other similar estate planning documents, if you have children that are still minors, you may decide to name a legal guardian for them. Here are some things to keep in mind to help you make the right choice for your kids.
Don't Focus on Money
While it is important that a legal guardian be someone who is financially able to raise your children, try not to focus on financial status as the deciding factor. Through your life insurance policy and other assets, you may be able to help relieve any financial burden for the guardian you choose. Instead, try to base your decision on how closely a person's beliefs and personality match your own and whether they would be able to provide adequate emotional support and time to your children.
Remember Spouses
Remember that the person you choose to be the legal guardian of your children may get married or divorced. If you want to give your sister guardianship, for example, what happens if she divorces her current spouse? Do you trust her judgment enough that you trust her to find a suitable future husband to be a constant part of your children's lives? Do you want her current husband to remain in the picture?
If you want to ensure that a couple shares guardianship of your children even if their marriage doesn't last, be sure to state that explicitly in your estate planning documents.
Expand Your Search Beyond Family
While many people do give legal guardianship of their children to family members, that may not necessarily be the best decision for you and your children. Close friends might be suitable guardians, and in some cases you may even want to consider fellow church members or child care workers. Avoid feeling that your children need to remain with family members and make every effort to place your children with the right person for the job.
Talk to Possible Guardians
If you have a few people in mind to be the guardian of your children, make sure you talk to them about it first. You may think your parents would be happy to take in your kids in the event of your death, for instance, but they might prefer not to take on that kind of responsibility at their age. Avoid assuming that people will automatically say yes.
It's also a good idea to talk to family members about your plans. That way, everyone will know your wishes and you can help your children avoid disagreements over their care and challenges to the guardianship that you put in place.
Now that you have some tips that will guide you as you choose a legal guardian for your children, take the time to make the right choice. Work with your attorney to ensure that the people you choose will be legally able to assume guardianship if you should pass away. For more information on guardianship, talk to a professional like Burford Law Firm LLC.
Share