Mistake #5 :If you name couples to serve as guardians in your estate plan, you must be very specific. Here is why:

It is common to name couples as joint guardians for children. Sometimes, your brother and sister-in-law are the best fit to raise your children if anything happens to you. It can be the perfect and preferred environment for your kids. Thus, the Fifth Mistake parents make when naming guardians for their children is to name them both as a couple to serve as guardians and not specify if one of the two may serve alone if the couple is no longer together.

It is ok to name a couple as Guardians for your children; but if you do, make sure to specify what happens if the couple is no longer togehter when they need to act as Guardians for your children. We plan because life is unexpected. Unfortunately, divorce can be more common than we may want to admit. So, it is so important to specify that if the couple is no longer together, that you want one of them to be the guardian for your kids before the right passes on to the first alternate guardian.

For example: you name your sister and her husband as guardians for your children. They have the household condition and ideals you would love your children raised into. Years later, a guardian is needed for your children, but your sister is divorced. Your second choice of guardians was your cousin (because you had no one else). You would still want your sister to be the guardian for your children, with or without her husband. However, by the designations on the document, the next person with right to be your child’s guardian is your cousin and not your sister.

This step is too often overlooked, and the kids end up with the second best choice, thus being very specific in the alternative is very, very important.

Remember, estate planning is not just about a Will, it entails all the protections your family may need. Think ahead, plan and make sure you protect them in the right way. Enjoy your peace of mind knowing they are protected.

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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 Mistake #4: If Naming couples as guardians, be very careful naming alternates

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