Most parents raise their children and see them step out into the adult world to pursue life on their own terms. However, in the unfortunate event that you and your child’s other parent were to die before your children turn 18, someone else would need to take legal responsibility for raising them. This person is known as a legal guardian.
You can appoint a guardian in your estate plan. If you don’t, it will be down to a court to make that choice – and they won’t have the in-depth information you have of your children and the people around you.
Here are some things to consider when deciding who could be the right choice of guardian:
Their relationship with your children
Losing you would be devastating for your kids, so having the arms of someone familiar to run into, rather than those of someone they hardly know can ease things for them.
Their age and health
Grandparents may well fulfill the criteria of having a strong relationship with your children, but you need to consider how long their good health will last. While they may be the perfect shoo-in for you right now, you need to think long-term, remembering that while legal responsibilities end at 18, you, parents and guardians often support children long beyond that in so many ways.
Their views and beliefs and those of people around them
You suspect your six-year-old boy may be gay. You know your brother would be cool with that and a great guardian. However, it could be problematic if his wife and her family have strong religious beliefs that do not embrace diversity. Remember, when you name a person as a guardian, you should consider those they keep company with, too.
Once you choose someone and get their approval, seek guidance to document your choice and learn what other measures you can take to benefit your children.
