There is a general belief that wills are only for the elderly and those who have poor health. In reality, it is for everyone – for people who considerably know that life can be uncertain. And if you have kids, the need for a reliable and comprehensive will becomes much more apparent.
Anticipate the future and all the possibilities it brings. What will happen to your kids if you pass on? Who will take care of them? Will they be all right? These are the questions you will need to ask when drafting a will. And while answering these questions, you need to cover one crucial aspect: choosing the legal guardian.
Here are some of the things you will need to know about it.
The Benefits of Appointing a Legal Guardian for Your Kids
One of the most obvious of appointing a guardian is that you have the assurance that your children are going to be looked after by someone that you trust. You also know that some critical decisions in your kids’ life, like education and medical requirements, will be handled by someone who has a solid idea of your plans.
A law firm specializing in wills says that a will covering the appointment of guardians will also necessitate the costs that will be incurred. That means that you will need to have a stable source of funding so that the guardian will not be financially burdened.
Choosing the Legal Guardian
Choosing the legal guardian is crucial, so you need to pick a person you can trust. Many appoint only two guardians, such as another couple, or the two will writer’s siblings. Some choose to appoint the kids’ grandparents, but you have to be careful at this. In this case, you appoint older guardians, such as grandparents, you may want to name secondary or substitute guardians. That will keep you from having to change your will in case the primary guardians are not able to perform their duties.
On the technical side, you may need to find a guardian that can take care of your child emotionally, physically, and financially. Have you ever had someone your child is already comfortable with? It would also be wise to pick a guardian who has similar parenting styles and values of your own.
Also, consider if your children will need to move far away just to be with the guardian. Gauge the guardian’s lifestyle and preference. It wouldn’t be practical to send your children to someone who does not like kids. And in case they have kids, how many do they have?
When it comes to making wills, you must have all your bases covered. Alongside this, you must make sure that there are no loopholes that others may exploit. That is why you must work with a lawyer specializing in estate planning. You must also review your will when a significant change in your life happens, such as having a new property or having new kids. Doing this will ensure that your will is always updated.