Do I know you?
How do I choose a guardian for my children? It is a big question, a question you hope will be academic and yet it is important to get this right. In March we are looking at the questions that you should ask yourself when making this decision.
When it comes to choosing a guardian for your children please do not glance over this question. Really ask yourself, do I know you? Do you know me?
When it comes to choosing a Guardian for your children we tend to jump straight to family, or more to the point, we tend to look at 'bloodlines'. Being related doesn't mean that they know you, and even if the chosen guardian has a different lifestyle or parenting style to you they need to understand what your child's life is like now, what you are like now, in order to help your child with the death of their parent and the transition into a new life.
I also want you to ask yourself, really ask yourself, do they know you? Do you relax around them? Can you 'be yourself' around them? Don't just say yes because that person 'should' know you, be honest with yourself.
But I have already chosen a guardian?
Great, this topic is still important though. If you have chosen a person to be your guardian then you should know them, and they you, and honestly these days is anyone complaining that they have too many friends?
Invest some time, as in spend some time with the person who you have chosen as guardian. If nothing happens to you then you and your children have the benefit of a closer relationship with someone who you know and trust. If something does happen to you then the guardian will be in a better position to help your family. Either way it is a good outcome.
Estate Planning is overwhelming
Preparing a Will when you have children comes with a lot of decisions, who should be the guardian for my children, what should I tell them, should they control the kids' trust, should they be a beneficiary of the trust, should I tell my family who I have chosen, should I tell my kids? What is a letter of wishes and how does it apply to my kids? Many of the steps we will talk about can be done by you, once you know why and how.
What if your kids are older, can you appoint a guardian for a 17 year old, or a 20 year old? What age should they be before they get the money? What if they need the money before that point?
Would you like to join my free Facebook group where we are discussing all of this, and I have provided a checklist to help you to work through all of the decisions yourself.