If you have a minor child, you need to choose a guardian for them when estate planning. This is the individual who will take care of your child if you are unable to, due to incapacitation or death.
It’s important to pick someone who will raise your child like you would have. Here are four qualities to consider:
1. Shared values and beliefs
A guardian’s personal values and beliefs matter. This is because they significantly influence how they make decisions regarding a child’s education, morals, religion and other aspects of upbringing.
It’s vital to choose a guardian who shares your values and beliefs. They don’t need to agree with you on everything, but their beliefs should align with your core principles regarding your child’s upbringing. Failing to consider this factor may result in your child being raised in a way that contradicts your original intentions for their life.
2. Financial stability
Choosing a guardian who is not financially stable may feel like you are burdening them. Even though you will leave money for your child, you want to choose someone who won’t struggle covering unexpected expenses or the initial ones before the court approves their access to guardianship funds.
3. Age and health
Choose someone who has and will have the capacity to raise your child to adulthood. Someone much older than you may find it challenging to keep up with your child’s needs when they become a teenager.
4. Location
If you wish for your child to remain in their current school and community, maintaining their relationships, choose a guardian who lives close to your home or is willing to relocate when the time to assume their duties comes.
These qualities are vital in helping you identify the most suitable guardian for your minor child. After finding one, consider legal guidance to validate the appointment.
