Picking a guardian for your child is one of the crucial decisions to make during the estate planning process. Your minor child can’t take care of themselves if you become incapacitated or die. They need someone to make decisions on their behalf.
But who should you choose?
Someone who shares your values
If you wish your child to be raised around certain values, consider choosing someone who possesses them, including educational views, religious beliefs, parenting styles, and so on.
Someone your child already knows
Family members and friends who have an existing bond with your child can be the first people to consider. It can be challenging for your child to cope with their new life while trying to build relationships. A guardian with kids the same age as yours can also provide familiarity and structure to your child.
Further, if possible, choose a loved one who lives nearby to minimize the need for your child to move to a new neighborhood or school.
Someone who is close to your age
Your parents may be a good option, but they may be unable to raise your child comfortably if the need arises. For example, they may also be dealing with their medical issues or having to put aside their own retirement plans. Therefore, age is a crucial factor to consider when picking a guardian for your child.
An alternative might be to name your parents as guardians for a particular period, for example, until your child turns 13. And then name another guardian to take over from 13 to 18 years.
Guardianship for your child is a sensitive matter. You need to make informed decisions to ensure your child is in good hands if anything happens to you.