When you create a will, you will need to name a guardian in this document if you have minor children. A guardian is responsible for taking care of your minor children or dependents if something happens to you.
To ensure your children or dependents are in capable hands, start by creating a list of friends or family members who could serve as guardians. Once you have a few potential candidates, take into account a few important factors before finalizing your choice.
Consider values and lifestyle
According to Forbes, 46% of Americans have taken time to create a will, and you may have put off making this document and naming a guardian because you are unsure of who to choose. When evaluating potential guardians, think about their values and lifestyle. You will want someone who shares your beliefs and values, as they will be responsible for imparting these to your children.
Assess financial stability
Your guardian should be able to provide for your children’s basic needs, including food, clothing and shelter. While the person you choose does not need to be wealthy, he or she should have a stable income and possess financial responsibility.
Evaluate parenting skills
The ability to nurture and care for children is something to consider when choosing a guardian. Look for potential guardians who have experience with caring for children, even if they do not have kids of their own.
Factor in location
Geographic location matters when choosing a guardian. Think about where the potential guardian lives and whether it is a suitable environment for your children. If your potential guardian lives far away, consider how it might impact your children’s schooling and social connections.
Life events, such as marriages, divorces or changes in financial circumstances, can affect your choice of guardian. Review your decision periodically and update it as necessary to ensure it remains relevant.