How Should I Choose a Guardian of my Minor Children?
For many clients, the reason they first decide to create an estate plan is because they want to name a Guardian for their young children. This can be both the impetus for starting the planning process as well as the most fraught part of their decision making. Every family's situation is unique, but here are some major points to consider when picking a Guardian:
- How close are your children with the Guardian?
- What generation is your choice of Guardian? How old will they be when your children reach 18?
- Do you want the same person to be Guardian (taking care of the person) as well as Trustee (handling the assets for your children)? The same person does not need to be named to both roles, and many clients like to divide these roles between different people.
- Where do you want your children to live? Is it easy for your named Guardian to move in to your home if you want your children to remain there?