Arden Dale writes about the importance of naming a guardian in your will for your child. The main reason to do that is that should the worst come to fruition, the decision would later be left up to a judge. Some good ways to get clients moving on this matter is to assure them that any initial decision made can be changed. It's also smart to point out that the guardian choice does not have to be a blood relative. Lastly, it's always a good idea to discuss the matter with your guardian designation so that they have advance notice.
See Arden Dale, "The Hard Question: Who Will Take Care of Your Child If You Die?" The Wall Street Journal (Dec. 12, 2011).
Hat Tip: Will, Trusts, & Estates Prof Blog.
Posted by, Andrew Hodes, Associate Editor, Wealth Strategies Journal.
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