Selecting a guardian for minor children can be a challenging choice.
Welcoming a baby is a joy for new parents.
Every child is a unique and precious member of their family.
While celebrating this little life, parents often want to avoid thinking about the possibility of leaving their child orphaned.
Despite its unpleasant nature, planning for such tragic events is necessary.
If parents fail to create a legal plan for their incapacity or death, their minor children will be subject to the courts for placement.
This may involve stints in foster care or guardians being named who do not share the values of the parents.
Yikes!
Selecting a guardian involves carefully evaluating the emotional readiness, financial stability, personal values, and long-term commitment required of effective guardianship.
Parents should protect their children through careful selection and legal nomination of a guardian.
A legal guardian will become the responsible adult for minor children whose parents cannot care for them.
They will oversee the children's healthcare, education, and emotional needs.
Guardians will manage the finances to provide for the children's well-being while providing a stable home.
When a guardian is not legally nominated through estate planning documents, a judge will decide who will care for the child.
Often this choice will be contrary to the preferences of the parents.
When choosing a guardian, you should consider whether the individual is financially, physically, and emotionally capable of caring for your child.
Health and age are important variables.
Although older relatives may have more experience, younger relatives may have more energy and a longer life expectancy.
Because parenting is stressful, you should consider whether the people you are considering have the emotional capacity to be patient and dedicated to rearing your child.
Your death will be disruptive to your children if it occurs.
It is best if the guardians can provide a stable home where there is a limited possibility for disruption through divorce or family conflicts after an already significant loss.
Guardians should ultimately be loving, nurturing, and dependable.
It is unrealistic to expect guardians to be wealthy, but they should be capable of providing for your child's needs.
By incorporating life insurance and trust funding into your estate plan, you can provide financial support and stability for your child if something happens to you.
If you provide for your child financially, the guardian should be trustworthy and capable of managing these resources for the benefit of your child.
Leaving your child to someone who shares few values with you is likely a horrifying thought.
You should consider whether a prospective guardian aligns with your faith, cultural beliefs, discipline, education, morals, and lifestyle values.
Doing so ensures your child will be reared with similar principles.
You should not surprise a guardian with the responsibility.
Have conversations with those you would like to nominate to ensure they fully understand the responsibilities of the role.
Talk with the possible guardians about your wishes and ask whether they are willing to commit to caregiving for your child long-term.
After your guardian has agreed, you should make the decision legally binding through your estate planning documents.
It is also important to name backup guardians if your original choice cannot serve when needed.
Parents need to take specific actions to ensure their wishes are honored by the courts.
First, the parents should document their guardian nomination in their last wills.
Second, they should include a letter of intent to guide guardians on the child's upbringing.
Although the letter is not legally binding, it is a helpful resource to your backup parents.
Third, the parents should utilize life insurance policies or trusts to secure the financial future of their minor children.
Working with an experienced estate planning attorney can give you peace of mind knowing your comprehensive estate plan accounts for your child's emotional, physical, and financial needs.
If you need to create or update your estate plan to include guardianship nominations, request a consultation with our Overland Park estate planning law firm.
Legal guardians are necessary to secure the future of your minor children if you were to die or become incapacitated.
If you neglect to nominate a guardian, a judge will select someone on your behalf.
When selecting a guardian, you should consider the values, financial stability, and emotional readiness of your choice.
For a guardianship to be legally binding, it must be included in your estate planning.
Because something could make it impossible for your original choice of guardian to serve, you should select backup guardians to protect your wishes for the future care of your children.
This post is for informational purposes only and does not provide legal advice. You should contact an attorney for advice concerning any particular issue or problem. Nothing herein creates an attorney-client relationship between Harvest Law KC and the reader.
Reference: Forbes (Jan. 29, 2020) "10 Tips For Choosing A Guardian For Your Minor Child"
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