Selecting a guardian for your child is an important part of drafting an estate plan. If the child is a minor, someone will need to care for them if a parent passes away unexpectedly. They may need to provide active parenting and childcare, address financial decisions, make medical decisions and more.
If you are incorporating this type of documentation into your own estate plan, here are three things to consider to choose the right guardian.
The guardian’s age
Often, parents are tempted to choose grandparents as guardians, but this can be problematic based on their age. It may be wise to choose multiple guardians so that there is a younger backup in place.
Shared values
Next, it is often wise to look for someone with a similar parenting style and shared values. You are trying to choose a guardian who will bring the child up the way you would have done yourself. If you can select someone who is relatively similar to you, it can make the change much easier for the child.
The guardian’s willingness
Finally, you should never select a guardian without talking to them in advance. You need to make sure that they have the necessary skills and abilities to take care of the child. You also have to make sure they have the availability, depending on their own family obligations or professional lifestyle. Finally, you just need to make sure that they are willing to take on the responsibility and that they will provide a loving environment for the child.
It is very important to make decisions like this well in advance, which is why you need to know what steps to take when creating an estate plan.