To make sure the right person is looking after your child should you pass away, this week Prestige Tax and Trust Services share five tips for choosing a legal guardian for your child.
You Need to Make the Right Decision for Your Child
Should you pass away, it is vital that you have appointed a legal guardian to look after your child, so they can take care of them when you can’t. Failure to do could result in the care of your child falling to someone you wouldn’t choose to take on the role.
Appointing a legal Guardian for your child simply involves naming them in your will. However before you do so, you need to decide who is right for the role. Considering the fact that this person will be the primary caretaker of the most important person in your life – your child – it’s a decision you have to get right.
Use These Five Tips to Choose the Right Legal Guardian
Making that decision can seem impossible, which is why we would suggest you implement the following tips to ensure the right person is chosen to be the legal guardian of your child…
- Consider Finances: Your chosen Guardian needs a steady income stream, to ensure your child lives a decent lifestyle. That is why you need to consider the financial situation of your chosen candidates when choosing a legal guardian for your child.
- Factor in Their Capacity to Love: Every child needs love, and if they are left with a guardian who is unable to love them like you do, it could result in a decreased quality of life for your child. That is why it is essential that you factor every candidate’s capacity to love into your decision.
- Calculate the Chemistry: The guardian and the child have to get on; if they don’t, it’ll just make both unhappy. That is why a good way to determine the best candidate for the legal guardianship of your child, is to calculate the chemistry, and simply ask how well they would get along.
- Ask Will a Child Fit into Their Lifestyle: A great benchmark to use is to look at the lifestyles of your chosen candidates. Do they have the time to take on the full care of your child? If the answer is no, strike them from the list post haste.
- Talk to Your Child: The best tool in your arsenal for choosing a legal guardian is simply talking to your child. Not only will you see who they believe is fit for the role, but if they have any special requirements i.e. they want to stay close to home due to an active school life, that you need to factor into your decision.
Prioritise Your Child’s Security
In other words, you need to prioritise your child’s security – financially, physically and mentally – when choosing a legal guardian for your child.
Once you’ve chosen the best candidate, let Prestige Tax and Trust Services, with its team of legal specialists and expertise in guardianship, ensure that said candidate is legally entitled to take on the role of your child’s guardian, should the worst happen to you.