Do It Now: Name a Guardian for Your Minor Children

No parent wants to imagine a future in which they are no longer there to raise their children. But deciding who should care for your children if something happens to you is one of the most important parts of estate planning for parents.

If both parents die or become unable to care for their minor children and no guardian has been nominated, the decision may ultimately be left to a court. A judge who does not personally know you, your children, or the dynamics of your family may have to determine who should take responsibility for their care.

Naming a guardian allows you to make your wishes known and provide important guidance about who you believe should raise your children if you cannot.

Why Naming a Guardian Matters

No one can completely take your place as a parent. However, there may be someone in your life whom you trust to provide your children with a safe, stable, and loving home while making important decisions about their education, healthcare, and general well-being.

Parents can typically nominate a guardian for their minor children as part of their last will and testament.

Without your nomination, family members may disagree about who should care for your children. The person ultimately selected may not be the person you would have chosen yourself.

Creating an estate plan gives you an opportunity to make your preferences clear before a crisis occurs.

How Do You Choose the Right Guardian?

Choosing a guardian can feel overwhelming. You are not looking for someone who will parent exactly as you do. Instead, consider who you trust to provide the type of upbringing and stability you want for your children.

Some important questions to consider include:

• Does this person already have a strong relationship with your children?

• Do you trust their judgment and parenting style?

• Do their values generally align with yours?

• How would they approach your children's education and healthcare?

• Where do they live?

• Would your children need to change schools or move away from friends and family?

• Would the potential guardian be willing to relocate if that were important to you?

• Is the person physically and emotionally prepared to raise your children?

• How old will they be while your children are growing up?

• Do they already have children or significant family responsibilities?

• Are they genuinely willing to take on the role?

Age alone should not determine your decision. Grandparents may have experience and an established relationship with your children but could face health or energy limitations as the children grow. A younger sibling or relative may have more energy but could still be establishing a career, home, or family of their own.

The right choice depends on your children, your family, and what matters most to you.

Talk to Your Choice Before Naming Them

Being named as a child's guardian comes with enormous responsibility. It should not be a surprise.

Before formally nominating someone, talk with them about what the role could involve. Make sure they understand your wishes and are comfortable accepting the responsibility if the need ever arises.

It is also wise to name at least one backup guardian. Relationships and circumstances can change over time, and your first choice may eventually be unable or unwilling to serve.

Your estate plan can also be updated if your preferred guardian changes in the future.

Who Should Manage Your Children's Inheritance?

Choosing who will raise your children is only one part of the planning process.

You should also consider how your children's inheritance will be managed.

Life insurance, savings, investments, property, and other assets may provide financial support for your children after your death. Your estate plan can establish how those assets should be managed and used for your children's needs.

Some parents also plan for expenses a guardian might face after taking responsibility for additional children, such as needing a larger home or vehicle.

The person responsible for raising your children does not necessarily have to be the same person responsible for managing their inheritance.

Guardian vs. Trustee

A guardian and trustee can serve two very different purposes.

The guardian is responsible for caring for your children and making day-to-day decisions about their lives.

The trustee manages assets held in a trust for your children's benefit according to the instructions established in your estate plan.

Naming different people for these roles can provide additional oversight. The guardian may request money for your children's needs while the trustee remains responsible for managing and distributing the trust's assets.

For some families, however, naming the same trusted person as both guardian and trustee may make sense and simplify decision-making.

There is no single arrangement that works for every family. The important thing is to think carefully about each person's abilities, financial judgment, relationship with your children, and ability to work with others involved in your estate plan.

Don't Put Off Planning for Your Children

The Law Offices of Joseph D'Urso helps parents create estate plans that address guardianship, inheritance, trusts, and other important decisions concerning their children's futures.

If you have minor children and have not yet named a guardian, contact The Law Offices of Joseph D'Urso to discuss how you can put the appropriate protections in place for your family.