A will is the foundational element of your estate plan. If you have children, you likely want to create your will to protect your assets and the future of your children.
According to Forbes, a will is a legal document that allows you to dictate how the court will disperse your personal and real property upon your death. It also gives you the opportunity to name a guardian for your minor children. Below are some qualities you should look for when selecting this person.
Consider age and overall health
Your parents may be your first choice when it comes to a legal guardian for your children, but they may be too old to handle the social, emotional and physical needs of young children. Consider designating a guardian for a specific length of time or choosing someone who is young enough to meet your children’s needs.
Figure in values
You want the guardian you choose to raise your children similarly to how you would raise them. For this reason, consider naming a legal guardian who shares your religious, educational and other values.
Think about general stability
You likely want a guardian for your children who will maintain a stable lifestyle for them. Think about whether your proposed guardian holds a steady job, owns a home or possesses other qualities that could provide your children with the lifestyle you want for them.
Who you choose as a guardian for your children now is not permanent. If you ever decide to change your children’s guardianship designation, you have the freedom to do so.