Estate planning for your children’s upbringing
Parents don’t often like to think about leaving their children behind while they are still minors. Aside from the tragedy itself, it can lead to a scary and uncertain future. However, some peace of mind can be found in appointing a trusted family member or friend in your estate plan to care for your minor children in the case that you are no longer around to do so.
Direct Lawyers’ Estate Planning Lawyers in Brisbane state that when deciding a guardian for your children, you should choose someone who shares your values and parenting style, as well as someone who is emotionally and financially stable. It is also important to consider the guardian's age and physical ability to take care of the children, as well as their current family situation and the possibility of them moving away.
If the primary guardian is unable to fulfill the role, a backup guardian should be considered as well. It is also important to have conversations with the chosen guardians and their families to ensure they understand the role and responsibilities they would be taking on.
It is also important to have open and honest conversations with your children about your choices of guardians, as they may have their own preferences and feelings about who they would like to live with.
In addition to appointing a guardian, parents can also complete a “Guidelines for Guardians” document, to be given to their children’s guardian if there are no surviving parents. The "Guidelines for Guardians" document sets out the wishes and preferences of an individual regarding the care and upbringing of their children in the event that they are unable to provide that care themselves. Every parent has a different idea on how they wish for their children to be raised, and providing a “manual” for your children’s guardian will make their task so much easier.
The Guidelines for Guardians document may include information on the individual's preferences for the children's education, religious or cultural upbringing, and extracurricular activities. It may also include information about any specific medical or emotional needs of the children, as well as any other important information that the guardian should know.
The document is also an opportunity for the parent to express their values and preferences for the child's upbringing such as their views on discipline, exposure to media and technology, and any other significant values they want to impart to their child.
It is however difficult to consider all the different aspects of parenting on the spot. This is why we provide our clients with a questionnaire, which is designed to prompt parents with anything they may wish to impart to their children’s guardian.
It is important to note that the Guidelines for Guardians document is not legally binding and that the appointed guardian has the legal authority to make decisions about the children's care and upbringing. However, the document can provide valuable guidance to the guardian and may be taken into consideration by the courts in the event of a dispute.
It is also important to keep in mind that the Guidelines for Guardians document should be reviewed and updated regularly as the children grow and their needs and preferences change. It is a good idea to review the document at least every five years, or whenever there is a significant change in the children's lives, such as a move or a change in the child's school or medical needs.
While it is difficult to envision a scenario where these considerations may be necessary, some peace of mind can be found by knowing that your children will be raised by a trusted person and that such a person feels confident in passing on your values to your children. For comprehensive and specialised advice on your estate plan or Will, book a consultation with us by clicking the button below. Or you can read more about other important elements of Estate Planning with these related articles: