Guardians for Children
Few choices in estate planning are more important than who you nominate as guardians for any minor children.
A court will ultimately determine who the children's legal guardians will be, but if you have a will nominating guardians it is quite likely the court will approve your nomination unless a court finds a reason otherwise.
Talk to potential guardians before nominating them in a last will and testament. Make sure they are aware and would be able to care for your children.
Considerations include:
- Is the guardian's home big enough to accommodate your children?
- Would the guardians be better off moving into your home until the children are adults?
- Would the children have to change schools?
- Do the guardians have children who are similar in age to your children?
- Are the guardians about to become empty nesters (and looking forward to it)?
- Do the guardians have similar values to you?
- Where would your children spend holidays?
- How often do the guardians interact with your intermediate family?
- Do the guardians like the children and vice versa?
- Are you prepared for the guardians to ask you to reciprocate and be nominated as guardians of their children?
If your children are old enough, consult with your children to get thoughts on potential guardians.
A guardian needs to be at least 18 years old to serve as a legal guardian.
Another important consideration is do you want your guardians to control your children's finances or would you like someone else to manage their money and provide the guardians with money as needed? In other words, do you prefer a system of checks and balances?
Consult with an attorney to review other important considerations in naming a guardian for legal children.
