6 Common Mistakes Most Parents Make When Naming Guardians as Part of Their Estate Plan
1. You named a couple to act as guardians when you don’t really want both people in the
couple and you haven’t said what should happen if the couple broke up or one of the
partners in the couple died.
2. You only named one possible guardian. What if something happens to your first choice?
3. You have not considered financial resources when deciding who should raise your children. Your guardians do not have to (and often should not) be financial decision makers for your children.
4. You only have a Will, which means the Court will distribute your money, it’s totally public, and it does not protect your money if your children divorce or they are sued.
5. You did not exclude anyone who might challenge your guardian decisions or who you know
you would never want to care for your children.
6. You only named guardians for the long-term and did not make any arrangements for the short term. What would happen in those immediate hours until your permanent guardians could arrive?