When writing your last will and testament, if a beneficiary is under the age of 18, there’s a few steps you will have to go through to make sure you have covered everything you need to, to ensure the child gets what they are promised in the will.
If the beneficiary is your child, it is important that you choose a guardian for this person. It is recommended you speak with your child’s other parent, as the two of you together should come to a joint decision on who will be best to take on guardianship of your child. You should be both on the same page about who will look after your child, but sometimes if you are divorced or are on bad terms with the other parent, it can be quite difficult to get them to agree with you.
It may be easier to act alone when deciding who should be the guardian. You can act without the other parent if they do not help with raising your child already. It is recommended that a child is raised by a parent or blood relative, but if you have any genuine reason for someone other than a blood relative to become guardian, it is important to document everything. The court will, at least partly, on documentation giving reason why the other parent shouldn’t become guardian. Example reasons why the other parent may not take on guardianship duties include mental or physical problems that may affect the care of the child, substance abuse, or abuse towards the child.
It is important that you consider the age, health and location of the potential guardians. It can be quite distressing to have to uproot a child to the other side of the country after their parent has passed away. Choose someone you see as responsible, and will bring up your child the way you wish them to be brought up, so this can take into consideration the potential guardian’s lifestyle and religion.
Another thing you should take into consideration is who will be Guardian of the Estate for the child. This is slightly easier than deciding who should be a personal guardian for your child. However, it is important to ensure the guardian of the estate has control over all assets. The personal guardian can also be the guardian of the estate, but this role can also be given to an accountant, for example.
It’s very important that your will is kept up to date with every change that happens, such as a divorce or more children. Discussing with an attorney will make sure that your will is kept legal and binding with every change.