Mistake #4: Not Having alternate Guardians for your Children as Part of Your Estate Plan

So you have taken the time to name a Guardian to take over your children if something happens to you. You feel comfortable with your choice. But as much as we plan and get ready, life can throw curve balls.  So what happens if the named guardian is not willing or able to act as Guardian?

The Fourth common mistake parents make when Naming Guardians for their Children is Not Having alternate Guardians.

 Remember that your plan should always work even if life changes. It should also work if unexpected circumstances happen in the life of your first choice of guardian(s) too. Thus, having a second and even a third choice makes of guardians for your children is much more likely that your plan with work.

It is important to consider circumstances, such as the passing of time. It could be years before you need guardians for your kids. Named guardian can move, have too many children of their own, be in an unhealthy mental state or simply does not want to take over your children at the time. Thus, it is important to have back up in place to make sure all bases are covered amd your estate plan always works.

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THIS POST IS PART OF A SERIES: Ten Top Mistakes Families with Children make in Most Estate Plans. Mistake #1: Not Having Written Instructions. Mistake #2: Not Naming Guardians for the Short Term Mistake #3: Not Naming Alternate Guardians

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