Appointment of Guardian in Your Will
Who will raise your minor children if you are no longer here? For parents, one of the most difficult—but most important—decisions in estate planning is deciding who will care for their children in the event of their death. While no one likes to imagine this possibility, putting your wishes in writing ensures your children are cared for by someone you trust.
Through your last will and testament, you can formally name your choice of guardian for your minor children. If you do not make this decision, the probate court will appoint someone without your input. Taking the time now to name a guardian gives you peace of mind and provides stability for your children during a difficult time.
Choosing a Guardian: Factors to Consider
Appointing a guardian is one of the most important decisions you can make in your estate plan, as it determines who will care for your children if you are no longer able to do so. This choice goes beyond simply naming a trusted friend or family member—it requires careful thought about who can provide stability, love, and guidance throughout your children’s lives. Appointing a guardian is a deeply personal decision. Here are some questions to guide you:
- Shared values – Does the guardian live by the values you want to instill in your children?
- Family dynamics – Does the guardian already have children, and if so, will the families blend well together?
- Financial stability – Can the guardian manage the financial responsibility of raising your children?
- Health and age – Is the guardian young and healthy enough to care for your children long-term?
- Location – If the guardian lives in another city or state, are you comfortable with your children moving there?
- Marital stability – Would you still choose this guardian if their marriage ended?
Because life is unpredictable, it’s wise to name one or two backup guardians in case your first choice is unable or unwilling to serve.
Guardian of the Person vs. Guardian of the Estate
There are actually two types of guardianship to consider:
Guardian of the Person
This is the individual who will raise your children and make day-to-day decisions about their health, education, and general well-being.
Guardian of the Estate (Your Children’s Money)
If a minor inherits more than $25,000, the probate court requires the appointment of a guardian to manage the child’s assets.
- Without a Will – If you have not designated a guardian, the court chooses one. The guardian must also post a bond equal to twice the value of the child’s assets, which must be renewed each year. This can quickly become expensive and burdensome.
- With a Will – You can name the guardian of your child’s inheritance in your will. You can also request the court to waive the bond requirement, saving your estate hundreds of dollars annually.
Planning for the care of your children is never easy, but with the right legal guidance, you can have peace of mind knowing your family will be cared for according to your values and priorities.
📞 Contact Favret Law today to schedule a consultation and take the next step in protecting your family’s future.
