6 Steps to Select and Name the Right Guardians for Your Children—Part 2… Christine’s Family Wealth Secrets

Hello and Happy Monday:

Wow, the 4th of July will be moderate, and not oppressively hot this year. We will likely spend time with friends/family in the pool & BBQing. We’ve been working on plans to remodel parts of our home and the yard is no exception. We purchased tomatoes and some other plants to beautify our backyard. Jean Marie did a fabulous job of planting lovely flowers during our trip to Spain and I was pleasantly surprised to see a super-clean back yard and lovely flowers in the pots. I could not resist purchasing some rather peaked Nasturtium’s at the local hardware store, for a hanging pot I am working on.  In addition to looking beautiful in reds, oranges and yellow, you can eat the entire flower, stem and all.  Should make for some colorful salads this summer.

nasturtiums

We hope you enjoy part 2 of our article on naming guardians for your children. This is about the most important decision you can make in your estate plan, so doing it the right way is what we recommend.

Enjoy your 4th of July, and stay safe. (Don’t forget your pets!)

Christine

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6 Steps to Select and Name the Right Guardians for Your Children—Part 2

Last week, we shared the first part of our series on selecting and naming the right guardians for your children. If you haven’t read it yet, you can do so here. Here in part two, we discuss the final three steps in the process.

4. Narrow candidate list, and rank your choices
When you’ve come up with all of the potential candidates for guardian, narrow down the list to your top five people. There’s no guarantee that your ideal candidate(s) will be willing to serve as guardian, so having more than one or two is a practical necessity.

To aide in this process, you should consider things, such as who really loves your children and who do your kids really get along with? Will this person be physically, mentally, and emotionally able to raise your kids to adulthood? The most important thing is to choose SOMEONE, even if you aren’t 100% sure about them, since you can always select a new guardian later.

Then rank your choices from top choice down to last. Again, backups are critical in case your first choice cannot serve.

5. Sit down with top candidates and discuss what’s involved
When it comes to asking someone to be your child’s guardian, you need to provide crystal-clear guidance about what’s involved. The discussion should cover all of your expectations about how you want your kids raised. Speak openly about finances, discipline, education, spirituality, and any needs that are unique to your children.

Once the discussion is complete, give them a few days to carefully consider the choice, even if they seem immediately gung-ho about doing it. Depending on the age of your kids, this could be a more than decade-long commitment. If they don’t carefully think it over, the responsibility can easily turn into resentment.

6. Legally document your plan
It’s essential to legally document your choice as soon as possible. Verbal commitments mean nothing in the eyes of the law. This is especially true when you name a friend over a family member.

Work with us as your Personal Family Lawyer® to create a comprehensive plan that includes all of the necessary legal documents to ensure the well-being of your children and the assets you’re leaving behind, no matter what happens.

With us as your Personal Family Lawyer®, you’ll have a trusted advisor who can help you navigate all of the legal, insurance, financial, and tax issues involved with estate planning. Indeed, we can put a plan in place that not only protects and provides for your children, but your entire family.

This article is a service of Christine Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and find out how to get this $750 session at no charge.

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