As you plan for your family’s future, one of your most crucial decisions is going to be choosing a guardian for your minor or otherwise dependent children. This choice can profoundly impact their lives if the unthinkable happens.
Failing to appoint a legal guardian in your will leaves the decision of who should look after your kids to the court, potentially placing someone you wouldn’t choose in charge of your children.
Prioritizing your relationships over your children’s needs
It’s natural to consider close friends or family members as potential guardians. However, friendship doesn’t guarantee guardianship success. Instead, evaluate how they interact with your children. Do they have the patience, compassion and understanding to support grieving children through major life changes? In that case, look for someone who can provide emotional support and maintain a stable environment for your kids.
Ignoring red flags and assuming the best
When choosing a guardian, it’s tempting to overlook minor flaws in those close to you. But, the approach comes with significant drawbacks. As such, both the best and worst traits of potential guardians matter. The stress of guardianship can reveal unexpected behaviors, so pick someone you trust to handle this important role, even in difficult situations. Choose a guardian with strong financial management skills, a stable personal life and the capacity for clear judgment.
Overlooking stability and lifestyle compatibility
While you might have multiple suitable candidates, not all may provide the stability your children need. Consider factors like:
· Geographic location: Will your children need to relocate?
· Family size: Can the guardian give your children adequate attention?
· Work-life balance: Will the guardian have time to meet your children’s needs?
· Values and parenting style: Do they align with your own?
Choosing a guardian whose lifestyle complements your children’s current routine can minimize disruption during a challenging time.
Failure to consider financial capability
While love and care are paramount, the financial features of guardianship shouldn’t be overlooked. Assess whether potential guardians have the financial stability to support additional children. If not, include your children’s financial needs in the estate plan provision by setting aside a trust and fund specifically for their needs.
Selecting the right guardian for your children is a legally significant decision with potentially lasting impacts. Avoiding common mistakes can help ensure your children are cared for by someone who will prioritize their well-being in the event that you can’t care for them yourself anymore.