Making a will involves a variety of difficult choices, but if you have minor children, choosing a guardian to care for them in the event of your death is likely one of the most daunting. U.S. News notes that failing to name a guardian for your minor child leaves a guardianship decision to the courts, which can put severe stress on that minor and your family.
As you prepare your will, there are several factors you might consider to ensure your child or children are properly cared for in the event of your death.
Consider your estate
There are several different types of guardianship to consider as you draw up your will. Your minor child will likely require both physical and financial protection, especially if there are others in your family you wish to name as beneficiaries of your assets. The individual you choose may have to take on several responsibilities, including:
- The management of financial accounts
- Protection of assets
- Guardianship of any physical inheritances (jewelry, vehicles)
As you choose a guardian, you may want to keep these responsibilities in mind so you select a guardian who is willing to take them on.
Choose the number of guardians
Depending on the size of your estate, you may want more than one person to handle your child’s affairs and financial matters. Having two or more people share this responsibility can lighten the load if you have a large estate so the physical guardian of the child can better see to his or her health, educational and general well-being.
It is wise to include any potential guardian in the creation of a will. The more information the prospective individuals have, the more confident they may feel about taking on the role.