Choosing a guardian for your children is an important reason to create a will. If you have yet to create this document, you are one of many parents who have not named a guardian for their children.
According to a survey produced by Caring.com, approximately 6 out of 10 adults in the U.S. do not have an estate plan. If you intend on creating your will soon, there are certain things you should think about while naming a guardian for your minor children.
1. Think about long-term scenarios
Consider where your guardian will be in life 5, 10 or even 15 years in the future. For example, if your parents are capable of caring for your children right now, you may want to pick someone else if you think they will not have the energy care for your children in several years.
2. Consider religious and moral beliefs
You want your guardian to meet your children’s physical needs, but you also want him or her to raise your children with religious and moral beliefs you approve of. Think about your guardian’s stances before you make this legal designation in your will.
3. Take into account the guardian’s living situation
Your guardian’s financial situation and job situation are two things you should consider. If your potential guardian could not manage caring for your children financially, it may be beneficial to pick someone else.
You can always amend your will and pick a new guardian if you change your mind later on. The most important thing is that you pick someone who will love and care for your children.