Nominating a Guardian for Minor Children
One of the most important decisions you can make is determining who will care for your children in the event of your death or disability. You should not make this choice lightly. Instead, you should give it serious consideration, and weigh your values.
While you may have close family and friends, you should consider how you want your children to be cared for, and who is the right person to do that. Don't worry about hurting the feelings of another family member or a close friend. What matters is that your loved ones are cared for in the manner you feel is best.
Think about: (a) your potential guardian's age and availability, (b) where you want your children to be raised, (c) your potential guardian's experience with minor children, (d) the lifestyle and environment you want for your children, (e) discipline style and (f) the moral and religious values you want for your children. …show more content…
While you can nominate the guardian of your choice, you should also choose up to five alternatives, and list them in order of preference. If you choose a married couple as joint guardians, you should consider the possibility that the couple may become divorced or that one spouse may die. In that case, you should consider whether you want the single or surviving spouse to continue to serve as guardian alone.
Providing Financial Resources
You should also plan your financial affairs so that the guardian's financial resources are not an issue. With careful planning, which can include life insurance, annuities, and other financial instruments; you can lessen the burden on your family's guardian.
You should pay special consideration to money left to minor children. One tool that is available is to create a trust, which permits the trustee to use the funds for the benefit of the minor children, and then distributes any remaining funds to the children once they become responsible adults.
Short-Term
One of the most important decisions you can make is determining who will care for your children in the event of your death or disability. You should not make this choice lightly. Instead, you should give it serious consideration, and weigh your values.
While you may have close family and friends, you should consider how you want your children to be cared for, and who is the right person to do that. Don't worry about hurting the feelings of another family member or a close friend. What matters is that your loved ones are cared for in the manner you feel is best.
Think about: (a) your potential guardian's age and availability, (b) where you want your children to be raised, (c) your potential guardian's experience with minor children, (d) the lifestyle and environment you want for your children, (e) discipline style and (f) the moral and religious values you want for your children. …show more content…
While you can nominate the guardian of your choice, you should also choose up to five alternatives, and list them in order of preference. If you choose a married couple as joint guardians, you should consider the possibility that the couple may become divorced or that one spouse may die. In that case, you should consider whether you want the single or surviving spouse to continue to serve as guardian alone.
Providing Financial Resources
You should also plan your financial affairs so that the guardian's financial resources are not an issue. With careful planning, which can include life insurance, annuities, and other financial instruments; you can lessen the burden on your family's guardian.
You should pay special consideration to money left to minor children. One tool that is available is to create a trust, which permits the trustee to use the funds for the benefit of the minor children, and then distributes any remaining funds to the children once they become responsible adults.
Short-Term