One of the hardest decisions that parents have to make during the estate planning process is appointing legal guardians for their minor children. The guardians you choose will take responsibility for raising your children if both you and your spouse pass away.
There are a few important considerations for choosing the right guardian.
Do they have the resources to raise a child?
When you consider the best guardian for your child, think about more than just someone close to them that you trust. Make sure that the person you appoint has the resources to raise a child. Even if you will leave a trust for your child’s care, make sure the person you appoint has a living environment and work schedule that is conducive to raising a child. Someone career-minded on the fast track to an 80-hour-a-week executive position may not have the time, for example.
Do you have similar beliefs?
When you appoint a guardian for your children, your hope is for them to raise your children with the same values and morals as you would. Look for someone who is similar enough to you in ideology and values to carry out those wishes and create the life that you have envisioned for your children.
Take your time making this decision because it is a significant one. Also, remember that you should select two guardians so that you have a secondary option if something happens to the person you name as primary. Keep your guardian information up to date in case of any changes as well.