When creating your will, you’re forced to make important decisions. This includes deciding on a guardian for your minor children in the event something happens to you. If you have minor children, you’ll want to take extra care to make sure that they’re always loved and protected.
You need to make sure that you guardian selection is not only the best fit possible, but that the individual is able to handle all of the responsibilities associated with the job.
Consider the following example:
Michael has six-year-old daughter named Tammy. Michael decides to appoint his sister Susan as the guardian of Tammy in his will. He assumes that Susan would want to care for Tammy if something happens to him.
When Michael suddenly dies, Susan is left to care for Tammy. Susan wants to care for her niece because she is family and she wants her to have a good life. However, she can’t deal with the overwhelming responsibilities that go with the job. Susan also has four children of her own, and one of her children has special needs.
What happens to Tammy?
You need to make sure that your guardian is willing and able to serve. He or she should also be able to fully commit to all of the responsibilities after much thought and consideration.
Make sure that you think about how your guardian’s life will change with your decision. You also want to make sure that your children will be in the best environment and that everyone is able to live a comfortable (and not overwhelmed) life. (Life insurance may play a role in this as well.)
If you have any questions about choosing a guardian, or if you’re ready to create a will, consult with a qualified estate planning attorney.