Selecting Guardians
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What are the important
considerations for selecting guardians?
One of the
most important things families need to address, regardless
of the size of their estate, is the question of who should be given
responsibility for raising minor children should Mom and Dad die prematurely;
thus, deciding who to name as guardians for young children becomes critical.
The estate
plan of a parent should provide for the contingencies of 1)
the death or incapacity to make decisions by the surviving parent prior
to the children reaching the age of financial maturity, or 2) the simultaneous
death or incapacity of both parents. Most people would agree that the
two primary concerns for the estate plan in such situations are to provide
a suitable guardian to care for and raise the children and to administer
the estate's assets in such a way as to provide for the children in
the most prudent manner.
We recommend
that you select as guardians, first of all, a couple who shares
your spiritual values and who will raise the children using the same
godly principles that have guided you. It's also important that they
be in the same stage of life as you; a couple who has already raised
their children (including your own parents) may not welcome the challenge
of starting afresh to raise the children you may leave behind.
Another
important consideration has to do with the location of the
guardians that you choose. We recommend whenever possible that guardians
be chosen who live nearby, so your death does not also mean that the
children will have to be uprooted from their neighborhood, their church,
their school friends, etc., and be moved to another city or another
state. The trauma of losing mom and dad could be dramatically magnified
should a cross-country relocation be required because of the selection
of the guardian.
Obviously,
the choice of a guardian for your children is a very critical and personal
decision, deserving careful consideration. This choice of guardian,
along with the children's trust, is paramount to a parent's complete
estate plan.
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