articles

PROTECTING YOUR KIDS - CHOOSING A GUARDIAN

Sponsored Content

By Daniel McKenzie, The McKenzie Law Firm, LLC April 9, 2014
Don’t Let A Series of Unfortunate Events Happen To Your Kids
Have you thought about who you would want to raise your kids if something were to happen to you? Only a small percentage of us have. Fewer still have legally documented their decisions or regularly revisit those decisions to confirm they continue to make sense.

This widespread procrastination is understandable. Choosing a guardian for your kids forces you to confront unpleasant possibilities. Disagreements between parents about who is best suited for the job can become a source of tension. Raising your kids is a huge favor to ask of anyone, even hypothetically.

But despite how much you would rather not think about this, if tragedy does strike, it is critical to have a plan in place that ensures your kids will be taken care of, both financially and emotionally. While odds are that you will be around to see your kids well into adulthood, the consequences of not having a plan in place if one is needed could be awful — maybe not “A Series of Unfortunate Events” awful, but even a small amount of uncertainty can result in outcomes far from what you would want for your children.

General Guidelines for Choosing a Guardian
So how do you go about selecting the people to raise your children if you can’t? While it is a highly personal decision, here are some guidelines to consider:
  • First, start by casting a wide net. Often times, people only consider family. But while family may have biological and emotional connections with your kids that non-family members don’t, you might find, upon further consideration, that you share more values with the friends you chose than with the family that fate stuck you with.
  • Second, don’t exclude people from your list because you think they won’t have the financial resources to do the job. Part of your responsibility in creating a plan is to ensure that sufficient financial resources will be available for your kids’ care. Most people accomplish this with life insurance.
  • Third, make sure that your list includes several possibilities, just in case your preferred choice isn’t available to take on the task when needed. I know what you’re thinking: “I’m having difficulty coming up with one good choice, and now you’re telling me I’ve got to come up with several?” There are options available to make this easier. For instance, if you have people who would work well in certain circumstances but not others, you can include them and then specify that your order of preference depends on those circumstances.
  • Finally, let go of the idea that you are going to find someone who will raise your kids exactly like you would. In all likelihood, every person you consider will deviate in some way from your imagined ideal. But don’t let your frustration with that reality derail you from creating a plan. A less-than-perfect choice is much better than no choice at all.
More Advice Available In My Free Guide
I offer a free guide to estate planning for parents that includes more advice on how to choose the right guardian. This guide includes an interactive electronic worksheet to help you brainstorm and prioritize guardian choices. Get it for free HERE.


The McKenzie Law Firm, LLC
1129 Pennsylvania St., Denver, 80203
Phone: (303) 578-2745
Email: dan@themckenziefirm.com
Find us on Facebook!


Also in this issue: