Choosing a guardian is one of the most important decisions you will make when estate planning. This person will be responsible for your estate and ensuring that your wishes are fulfilled after your death.
Taking the time to choose the proper guardian is crucial. You want to be sure that you select someone responsible, trustworthy, and capable of handling the estate. But, on the other hand, you don’t want to make a hasty decision or choose someone simply because they are a family member. So, how do you go about choosing the proper guardian?
In this article, we will discuss:
- The role of a guardian
- Things to consider when choosing a guardian
- How to select the best person for the job
What Is a Guardian?
A guardian is appointed by the court to manage the estate of someone unable to do so. This may be due to incapacity or death. A guardian ensures that the estate and its assets are managed according to the deceased’s wishes.
Guardianship can be a complex and time-consuming process. Therefore, choosing someone who is up for the task and has the time and resources to dedicate to it is crucial.
Things To Consider When Choosing a Guardian
When choosing a guardian, there are many things to consider. However, here are some essential factors to keep in mind:
The Guardian Should Be Someone You Trust Implicitly
Trust is the cornerstone of any good relationship and is especially important when choosing a guardian. This trait is essential because your guardian will make decisions on your behalf if you are incapacitated or otherwise unable to do so.
It is vital to choose someone you know will act in your best interests and make the decisions you want them to make. You should also feel confident they will be able to handle the responsibility of making these decisions.
The Guardian Should Be Responsible and Organized
Another essential quality to look for in a guardian is responsibility. This person will be entrusted with making important decisions on your behalf, so you want to ensure they are up to the task.
They should also be organized and have a good handle on their finances. This is important because they may need to manage your finances if you cannot do so.
The Guardian Should Be Willing and Able to Act in Your Best Interests
When choosing a guardian, it is also essential to be sure they are willing and able to act in your best interests. This means they should be willing to make the tough decisions that may need to be made on your behalf.
It is also crucial that they can do this in a way that is consistent with your wishes. This means they should be able to understand and follow estate planning documents, such as a will or trust.
They should also be comfortable working with estate planning professionals, such as lawyers and financial advisers. This will ensure that your estate plan is carried out the way you want it to be.
The Guardian Should Be Geographically Close to You
One final factor to consider when choosing a guardian is their geographic location. If possible, you should choose someone who lives close to you.
This will make it easier for them to act on your behalf if they need to do so. It will also make it easier for them and your family to stay in touch, which is vital for estate planning.
How To Select the Best Person for the Job
You may wonder how to select the right person to serve as a guardian. Here are some tips:
- Ask yourself who you would want to make decisions on your behalf if you could not do so
- Make a list of potential guardians and narrow it down to your top choices
- Consider the factors discussed above when making your decision
- Once you have selected a guardian, communicate your wishes to them in estate planning documents, such as a will or trust
- Review your selection periodically to ensure they are still the best person for the job
When it comes to estate planning, deciding who will be your guardian can be difficult. You want to make sure that you choose someone who not only shares your values and beliefs but can also take care of your loved ones in case something happens to you. If you’re considering choosing a guardian yourself, there are a few things you need to keep in mind.
First, you must ensure that the person you select is responsible and capable of caring for your loved ones. Second, you must ensure they share your values and beliefs. And finally, you need to ensure they are willing and able to take on the responsibility. So, if you’re estate planning and considering DIY, make sure you take the time to choose the right guardian for your loved ones.The post How To Choose the Right Guardian? appeared first on Albers and Associates.