Including a will in your estate plan provides you with a great opportunity to make important decisions regarding how you want things to happen after you pass away. A will is like an action plan comprising of details about your beneficiaries and distribution of your assets and property. In addition to that, it gives you the chance to name a guardian for your children, if they are under the legal age, i.e. 18 years.
Nominating a guardian for your children is a personal and extremely important decision that should be made with careful thought and consideration. If you do not choose someone to take care of your children after you pass away, the court will have no choice but to assign a legal guardian using its own judgment and discretion.
Important Factors You Should Consider
Here are a few factors you should consider that will help you select the most suitable person as the guardian of your children:
- Financial Stability: A guardian should have ample financial resources to not only support themselves and their family members, if any, but should be able to provide for your children as well. Raising and educating a child costs a lot of money – it is essential to choose a guardian who can handle these financial burdens and is able to effectively meet your children’s needs.
- Consider Philosophies and Values: Every person has a distinct set of perspectives, values, and philosophies regarding different aspects of life. When making a list of potential candidates for guardianship, think of those who share the same outlook as yours in terms of moral values, religious beliefs, social values, educational values, and child-raring philosophy.
- Location: Consider a person who lives within close proximity (same neighborhood, town, or county) to you or is willing to relocate when the time comes. This factor becomes more important with the age of your child, as the older they are, the harder it will be for them to adjust to new community/neighborhood, school environment, making friends, and other things they have grown accustomed to.
- Consider Personality Traits: Having a guardian whose personality traits are good enough to have positive influence on your children is another important factor to consider. How affectionate they are towards children? Are they good role models? Do they have the mindset and patience to handle parental responsibilities? Answer to these questions will help you narrow down your list of potential candidates.
- Familiarity: It will be great if your children already knew the guardian or some a friendly relationship with them. This will make the transition easy for your children.
- Willingness: Never assume that someone you think likes your children will be willing to take care of your child after you. Make sure you sit down with the person and ask for their consent and willingness to take up the role before naming them guardian in your will.
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Lastly, be independent in making your decision. You may discuss this matter with your spouse, but do not be influenced by recommendations of any other person, as no one knows what is best for your children better than you. If you need legal assistance in selecting a legal guardian or help with making a will, you can rely on our experienced attorney to provide competent legal counsel to meet your estate planning needs. Contact Mary Ann Covone, P.C., Attorney at Law at 708-246-4911 or online today to schedule a free consultation.