If you have minor children and are beginning the estate planning process, you should think about guardianship. Your children should have a legal guardian in the event you die while they are still minors. You might have trouble deciding between family members and friends. How do you choose the right person?Everyone has their pros and cons, but there are some guidelines to keep in mind. Read below for some things to consider while choosing a guardian for your children.
Maybe your sibling or best friend lives in another state, but they seem like the perfect pick. Do not automatically assume someone will pack up their bags to take care of your children. It is more likely that your children would move in with the guardian. Think about whether you are fine with your children living somewhere else.
2. Religious and political beliefs
If you are raising your children according to your strongly held beliefs, make sure you know what the potential guardian believes. This person will be responsible for shaping your children if you are not around. While you should not assume you will find someone who completely believes every single thing you do, it is good to try and find someone who is close.
When choosing a guardian, age is a tricky variable. Someone who is older may be more financially stable and have time to raise your children while a younger guardian may be healthier and more engaged with current parenting trends. There is no strict rule to follow when it comes to age – just make sure you take it into account when you choose someone.
Planning for your future is important, including what will happen to your children when you die. Apart from naming them as beneficiaries in your estate plan, make sure you consider establishing guardianship if something goes wrong while they are still young. Talk to an estate planning lawyer about your options.