If you die, you hope your spouse or co-parent will care for your children, but what if both of you die? Who will care for your children then?
According to a Gallup poll, only 36 percent of people between the age of 30 to 49 have a will. Yet, this is the age of many parents with small children. While you may not want to think about it, you need to have a plan in place for the care of your children.
WHAT YOU NEED TO KNOW ABOUT A GUARDIANSHIP
When you have small children, guardianship is an important aspect of estate planning. If you die and you do not have a will and declaration of guardian, the court will choose a guardian for your children.
Under Texas law, the court follows strict rules to choose a guardian. The court will look at grandparents first. If there are no grandparents alive and willing to care for your children, the court will look at next of kin.
HOW TO CHOOSE A GUARDIAN YOU PREFER
You may not share the same values with your family. Also, your family may not provide a healthy environment for your children. You may feel a friend would take better care of your children. With proper estate planning, you can have that put in writing. Make sure a potential guardian is young enough and has the resources to care for your children.
Losing you and your co-parent can be devastating for your children. Choosing the right guardian beforehand will help lessen the blow.