A big part of estate planning is picking guardians for your children. If you are a young parent, you know that your priority is creating a positive life for your children. Even if something should happen to you, you want to make sure that you have a plan in place to accomplish this goal.
Choosing a guardian can benefit your loved ones in many different ways. Let’s consider a few of those benefits below.
You know they have a safe living situation
First and foremost, you need to know that your child will have somewhere safe and healthy to live. Choosing a guardian means that you guarantee that they’re going to have this type of living situation. There will be no questions or confusion about where the child should go or what should happen to them.
You give them more stability
Similarly, this gives the child stability. The passing of their parents is going to be a very difficult time for them, but getting to live with a guardian can give them the support system that is so important at that time.
The guardian takes care of parental activities
The person you choose to be the guardian is going to take over the parental role you would have filled. For instance, they may help the child enroll in school when the time has come. They can help them get the medical care that they need or do other things of this nature. The child is too young to navigate any of this on their own, so the guardian acts as a sort of guide.
The guardian provides a substitute parent
At the end of the day, the guardian is going to be a substitute parent in your child’s life. This is why it’s often important to pick someone who has similar values to you, or who will use a similar parenting style. It may also be wise to pick someone that the child already knows and has a good relationship with. This can help things go more smoothly for them.
Setting up your estate plan
If you’re getting started with estate planning and focusing on picking a guardian first, be sure you know what legal steps you’ll need to take to set up the plan.