When you add a child to your family, you and the other parent will have to make a lifetime commitment to your new baby. Unfortunately, some parents will be unable to fulfil those obligations to their children because they die while their kids are still minors.
Although you might assume that the other parent will take over if anything happens to you, there is no guarantee that is what will occur. Naming a guardian in your will is a crucial step to protect your children in case something happens to you.
You shouldn’t assume that the right person will step up if you die
While you may have multiple siblings, all of whom claim to love your child, if none of them accept the responsibility of guardianship, your child may not have a place to go if anything happens to you. Rather than assuming your family will do the right thing, it is better to talk with people now and have a firm plan in place. The person you think will take over your responsibilities might refuse to do so, and the sibling you would least expect might be happy to step into a parental role if needed.
If something happens to you and there is no guardian for your children listed in your will, your kids could wind up in foster care or state facilities, possibly separated from one another. The chances are slim that your children will ever need a guardian to support them, but on the off chance they are left without your love and guidance, you need to know that the right people will be there to help them.
Thinking about those who depend on you can help you create an estate plan that protects your family.
