When it comes to keeping your estate plan up-to-date, few things are as important as making sure that your children will be taken care of if something should happen to you. When you first created your will, you likely invested a great deal of thought into choosing a guardian. Over time, however, circumstances may change. This may call for a modification of the guardianship appointment in your will.
Five Reasons to Consider a Change to the Guardian Named in Your Will
Why update your will to change the appointed guardian? The following are five common reasons:
- Your original guardian has now aged significantly and you have concerns about his or her health, or if your children are still very young, it may be time to modify your will in order to appoint a new guardian. This is frequently the case where parents name grandparents as guardians of young children.
- Your original guardian has relocated and is no longer located nearby your current home. If the guardian now lives far away, your children may have to go live with him or her if something should happen to you. This would further disrupt their lives during an already difficult time. Similarly, it may place undue pressure on the guardian to move closer under these circumstances. Choosing someone who already lives locally may be a better choice.
- If the original guardian is experiencing difficulties in his or her personal or professional life, it may be best to choose someone new to fill this role. Your original guardian may simply not have the same time or energy to devote to your children as someone else may.
- If the original guardian now has several young children of his or her own, you may wish to reconsider your choice. At a minimum, it is important to consult with your original guardian to ensure that he or she is still able to take care of your children in the event that something should happen to you.
- If your original guardian is struggling financially, you may want to reassess the guardianship appointment. Unless your estate plan provides the guardian with substantial resources, the original guardian may no longer be the best choice.
Selecting the right person to be the guardian of your children is a difficult task. Fortunately, your estate planning attorney can help guide you through these decisions. We encourage you to contact us for guidance by contacting us directly today.