15 Nov How To Choose A Legal Guardian For Your Children
When you are taking care of your children, it is hard to fathom that you may not be there one day. Things happen every day that cannot be predicted. It is important to plan for every eventuality, especially when children are concerned. Read on to learn how to pick the right legal guardian for your children in case anything happens.
The Basic Qualifiers
Ask yourself these questions about a potential guardian to eliminate unsuited candidates and highlight your best options.
Values
Does the prospective guardian share the same basic values as you? Beliefs and values are an important part of a child’s upbringing, so you should make sure that your choice will continue the same moral, religious, personal, and/or political values for your child.
Relationship
The relationship a guardian already has in place with your child is important. It is much easier for a child to adjust to a new life with their guardian if they know them well.
Family Situation
If a potential guardian already has children, will they be able to take in yours? It is important to consider that a full house may not have room for any more kids, no matter how well they would care for them otherwise.
Age and Health
Guardianship can be a long commitment, depending on the age of the child. Make sure the guardian you choose will be fit and able to take care of your children at least until they hit the age of majority.
Location
If your children are old enough to have already established a social group, relocating them cross-country can be damaging to their emotional and mental well-being, especially during what will already be a difficult time in their lives.
Still, there are more factors to consider when choosing and supporting a legal guardian for your children.
Financial Stability
Ideally, your estate and life insurance will leave enough to provide for your children through college. Those currently making life insurance arrangements may want to know the answer to this question – Should You Invest in a Second to Die policy? Protecting the value of your estate can be tricky business so you will likely want to know the ins and outs of the problems you may encounter in doing so. No matter your financial situation, your children will likely have an inheritance that needs to be managed. If you have more than one child, you need to specify in your PolicyMe life insurance plan which child inherits what, even if they are inheriting the same. If the best option for a child’s guardian is not the best option to manage the finances of their inheritance, you can appoint both a personal guardian and a guardian of the estate. This way, your children receive the best care possibly while their inheritance remains protected.
Ask The Guardian
When you feel you have made the best choice, it is important to get the consent of the guardian you have chosen. Make sure they understand why you chose them and what their responsibilities would be. Also make sure that they are willing to take your children in.
Update Your Will
Once you have made your choice, put it in writing. Putting a guardian in your will, however, does not mean that it cannot be changed. If your life changes, make sure to update your choice in your will to reflect the current situation.