Tips for Choosing a Legal Guardian for Your Children
We have all seen and heard enough to know that life can end in an instant. If you have not designated a legal guardian to care for your children (in case you and your co-parent are unable to because of death or a disability,) you are putting your children at risk of being raised by someone chosen by
Have you considered who will raise your children if something happens to you?So, start the conversation now and carefully choose someone to raise your children and another to manage the money that you've left to provide for their care. I recommend choosing more than one potential legal guardian and also divvying up the responsibilities between parenting and managing money to reflect peoples' strengths. Are you overwhelmed yet? It's understandable if you are. No one likes to face their own mortality, but we have a duty to our children to make sure they are protected.
Consider the following questions to narrow the field of candidates:* Do your children know and trust the person you think should raise them?
* Do they live nearby so as to cause as little disruption as possible?
* Will that person raise your children with the same values and beliefs as yours?
* Will he or she make wise financial decisions on your children's behalf?
* Are they young and healthy enough to raise your children?
* If they already have a family, would your children blend in well with them?
* And most importantly, are they willing to accept the responsibility of caring for your children?
Document your choices as soon as possible.Now document your choices and make it legal. Above all, don't hang your hat on just one candidate - designate several backup candidates. Keep in mind that you can always change your selections at a later date, as your life and circumstances change, and as your children grow and their needs change.