If you have minor children, it’s important to appoint a guardian for them in your estate plan. This way, if you should die unexpectedly, your children would at least be taken care of. However, selecting the right guardian can be quite tricky. Here are a few common mistakes to avoid when picking a guardian for your kids.
Selecting Someone Without Financial Resources
As you probably already know, taking care of children is very expensive. From food and clothes to medical care, kids need a lot. That is why it is important to select a guardian who is financially stable. You should feel confident that this person can afford to give your children the life that they deserve.
Choosing Someone to Appease Your Family
The last thing you want to do is select a certain guardian because you feel pressured to do so. For example, your family might expect you to choose your sister as the guardian, but you don’t feel like she is the right fit. If you don’t think a person will follow the wishes you have for your children, don’t choose them.
Appointing Only One Guardian
Even if you think you have chosen the best possible person to serve as a guardian for your children, you should appoint at least one or two other alternatives. People can experience many changes in their lives. For example, your first choice may move far away or fall ill and can no longer take care of your children. If you have backups, you know that someone will look after your kids.
Not Considering the Guardian’s Age
Many people want to appoint their own parents as guardians of their children. However, this might be the best idea. If your parents are elderly and your children are very small, your parents may not be able to deal with the physical demands of raising kids. It may be a better option to choose a younger guardian.
Leaving Out Instruction on How Your Children Are Raised
If you want the guardian to raise your children just like you would have, it’s essential to provide clear instruction. For example, you may want your kids to attend church or follow a certain diet. No details are too small.
If you need help with your estate plan, contact an estate planning lawyer, like one from Yee Law Group.