Whenever parents contemplate their child’s future, it’s natural to think about how the child would fare if you should die. This is never a pleasant thought, but there is some way to help alleviate the worry. By creating an estate plan in which you choose a guardian to take over caring for your child if you should die, you can rest assured that your child will be cared for by someone of whom you approve.
There are two types of guardianships that need consideration. Guardians of the estate are those persons appointed to manage the assets of a minor child. There are alternatives to a guardian of the estate such as a trustee for a trust for a minor child. Consult with an experienced and qualified estate planning attorney to discuss these options.
The other type of guardian is the guardian of the person who will actually care for a minor child. Here’s what you need to consider when making your guardian of the person selection.
Make a list.
Most people choose a family member as a guardian. However, you shouldn’t limit yourself to only your closest siblings or parents. More distant relatives as well as close friends can also be a suitable choice. To help you determine what your options are, it’s best to make a list of each person as well as write down any thoughts that occur you when you think of how a person might serve as a guardian.
A good guardian will be one which can raise your children in accordance with the values you support. While you don’t have to share the same beliefs or opinions with the would-be guardian, that person should at least be able to instill in your child the kind of ethics, morals, social values, religious values, and other philosophies which you believe are important.
No perfect fit.
You will never be able to find a guardian that is a perfect choice. Instead of focusing on small factors, focus on whether the person will be able to care, love, and support your child. If a person can bring the child up in a loving, caring environment, he or she is an ideal potential guardian.