Do I trust you?
How do I choose a guardian for my children? It is a big question, a question you hope will be academic and yet it is important to get this right. In March we are looking at the questions that you should ask yourself when making this decision.
Do I trust you?
No really, do you really trust the person. To quote Jada Pinkett Smith, would you ask them for what you really needed when you were at your lowest? Don't fall back on who you 'should' be able to trust, ask yourself who you really trust.
Actions speak louder than words, who do you approach when you need help?
Here is the thing, if you can’t ask them for what you need, and trust them to deliver, how can your children ask for what they need?
But I have already chosen my guardian?
It is still important for you to think through this. Does your friend who you have chosen as a guardian trust you to ask for help when they need it? Do you trust them?
Have you talked to them about the importance of asking for help, and being able to ask for help? Encouraging others is good for you too, so not only are you both re-inforcing the importance of actually asking for help but you are also gaining benefits from simply encouraging each other.
Estate Planning is overwhelming
Preparing a Will when you have children comes with a lot of decisions, who should be the guardian for my children, what should I tell them, should they control the kids' trust, should they be a beneficiary of the trust, should I tell my family who I have chosen, should I tell my kids? What is a letter of wishes and how does it apply to my kids? Many of the steps we will talk about can be done by you, once you know why and how.
What if your kids are older, can you appoint a guardian for a 17 year old, or a 20 year old? What age should they be before they get the money? What if they need the money before that point?
Would you like to join my free Facebook group where we are discussing all of this, and I have provided a checklist to help you to work through all of the decisions yourself.