As a young couple with children, your life is really just beginning. While it is most likely that you will go on to live a happy life for many years, it is important to cover all possibilities. Estate planning can do you no harm. However, neglecting it can cause distress for both you and your loved ones.
Your top priority will be to ensure that your children are looked after should something happen to you. Naming a guardian is one means of doing this. A guardian is someone who will be able to offer stability to your children and raise them to the same standard that you would have. Obviously, this is a huge decision that requires careful consideration. So, how do you know you’ve chosen the right guardian?
Are they physically able?
Parents tend to jump out as the most suitable choice when you are deliberating. They will already have a strong bond with their grandchild. Through your own upbringing, you have evidence that they can suitably raise a child. However, the reality is that age catches up with us all. The physical demand of raising a young child can be intense. Are your parents still up to the job?
Is there a standout candidate?
A guardian doesn’t have to come from your direct family. Perhaps you have a friend of a similar age who is always there when you need some support. If they have a strong bond with your child, they may be the perfect choice for guardian – assuming they want that responsibility.
Your options may change over the years
You always have the option to change your mind. Your will and other estate planning tools can always be updated according to your unique circumstances.
As you plan for the future, you want to make sure that the care of your children is always covered. Checking out your legal options in Arizona will facilitate this process.