While choosing guardians for your minor children is an immensely important task, it can also be an overwhelming one for new parents. There is a lot to consider when choosing who will care for your little ones in unforeseen circumstances. In this article, we’ll explore the 6 common mistakes to avoid when naming guardians for your little ones, to ensure their well-being no matter what.
1. Naming a couple to act as guardians when you really only want one person in the couple: It is common to name a couple to act as guardians for minor children without thinking about what would happen if the couple broke up or if one of the partners in the couple died. When naming guardians, it is important to specify whether you want the couple to act jointly, and whether either partner could act alone in case one partner dies or they break up.
2. Only naming one possible guardian: Of course, we never want to think about something happening to our friends or family, but I always recommend my clients name at least two guardians, just in case something happens to the first.
3. Not considering 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. You can make many of these decisions ahead of time and come up with a plan should something happen to you so your guardians are not making these decisions. |  |
4. Only having a will: This means that the court will distribute your assets through a process that is totally public, and your money is not protected from your children’s future creditors, divorce or lawsuits. While a Will is a great first step in drafting your estate plan, when there are minor children involved, Living Trusts generally provide much greater protection for your children and assets.
 | 5. Not excluding anyone who might challenge your guardian decisions or who you know you would never want to care for your kids: If you know of someone who might contest your choice of guardian or whom you would never want to care for your children, make sure to exclude them from your plan. We have processes to legally document any exclusions so that your intentions are clear. |
6. Only naming guardians for the long-term and not making any arrangements for the short-term if you were in an accident: Generally, when people think about estate planning for young families, they consider who is going to take care of minor children in the long-term. However, what if your long-term guardians live across the country? It is crucial to think about who is going to take care of your children during the immediate hours before your permanent guardians could arrive.
If you have made one of these 6 common mistakes in your estate plan, not to worry – we have solutions! Contact our office to discover how you can fix these mistakes and make sure that your children, your family, and your money are protected.
 | Lauren Kaplan is the founding attorney of Kaplan Estate Law LLC. As a mom of two little boys, Lauren is passionate about estate planning for young families to ensure that your children are always protected. Contact Lauren at lauren@kaplanestatelaw.com or (312) 833-2199. You can also visit her website at www.kaplanestatelaw.com or schedule a complimentary initial consult here.  |
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