A-Z of personal finance: G is for guardian
Who will take care of your kids if you die?
Deciding on a legal guardian designated to care for your minor children if you should die, or worse still if your spouse or partner dies as well, is one of the most important decisions you will ever face as a parent. Unless you specifically name a guardian in your will, a family member can step forward and the court will determine who is the most appropriate to perform the role. Here are some issues to consider as you choose a guardian.
What is the guardian’s family situation?
How many children does your candidate already have and what are their ages? It would be ideal if the potential guardian has children of a similar age to yours so that they grow up together. Do you wish for your child to be raised by a single sibling or friend, a single parent, a married couple with or without children?
Where does the guardian live and is this is in line with your plans for your children? The most likely thing to happen is that your children will have to leave their home to move in with the guardian. Can their home accommodate their family and yours?
Do the guardian’s values and beliefs reflect yours?
If the potential guardian is already a parent, then you would have already observed the way they are bringing up their own children. What is their own background and how were they raised? Do their parenting style, values, and religious beliefs reflect yours?
The full text appears in “A-Z of Personal Finance” by Nimi Akinkugbe. Available in leading bookstores including Glendora Books, Laterna Books, Patabah, Terra Kulture, Quintessence, Jazzhole …and online from Jumia, Amazon, Barnes & Noble, Manna Books and AMV Publishing
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