If you have young children, deciding on a legal guardian should be an integral part of your estate-planning process. If either you or their other parent passes away, the other parent would still raise your kids. But what happens if both parents are in an accident? While nobody likes to think about the possibility, it is important to assign a legal guardian to your will. This is the person you task with raising your children if you and your spouse die unexpectedly or are otherwise incapacitated. It’s a big decision and one that you need to carefully consider. You might debate between your parents, your siblings, or even friends. However, there are important factors to think about no matter who you pick. While it’s unpleasant to think about, knowing that you have a legal guardian appointed in your will might give you peace of mind.
Deciding On a Legal Guardian: Different Options
Grandparents
When deciding on a legal guardian, many people go straight to their parents as a choice. However, there are some things to consider. For example, they’ll need to be physically fit and healthy enough to handle young children. Think about them. age and whether or not you feel confident that they will remain in good health while raising their grandchildren.
Aunts and Uncles
Another popular option when deciding on a legal guardian is your siblings. One positive of this is that your children will still be able to maintain close relationships with their families. For example, grandparents and extended family. Additionally, your siblings might have similar core values to you and your spouse. Hopefully, this means that they’ll respect your wishes for how you’d like your children brought up.
Friends
If you don’t have siblings or don’t have siblings that you feel would be a good fit, you can assign friends as legal guardians of your children. Like siblings, it’s important to take into account their values and whether or not they’ll raise your children in a way that you approve of. Additionally, raising kids is expensive, so you’ll want to make sure that it is financially feasible to ask them to take on this responsibility.
Things to Keep in Mind
When deciding on a legal guardian for your kids, there are many things to consider. You’ll want to make sure that whomever you pick has the emotional and financial capacity to take this on. You might also want to consider their support system. They’ll need all the help they can get adjusting to life as new parents while dealing with the grief of losing you. This decision is yours alone, so don’t let others pressure you. The decision has to be right for you and your spouse.
Deciding on a legal guardian for your kids can be a difficult task. There are a lot of things to think about when making such a huge decision. You’ll want to choose somebody that you feel comfortable with, and somebody you trust to raise your kids. But they also must have the financial means and emotional capacity to take this on. When thinking about who to pick, you might consider your parents, your siblings, or friends. The fit has to feel right for you and your spouse. Additionally, it’s a good idea to speak with whoever you choose and make sure that they are comfortable having this potential responsibility. While you hope that you never actually have to give another person the task of raising your children, it can give you peace of mind knowing they’ll be in good hands if the unexpected should happen.