If you have just had a child and you have decided to write a will, it is probably because you are thinking about your child’s future. On one hand, you need to set up a way to leave assets to the child if you pass away unexpectedly. But you may also be looking into choosing a guardian so that you know who is going to raise your child if you pass away and are unable to do so.
When thinking about who they want to care for their child if they cannot, young parents are often tempted to choose the child’s grandparents. It feels like a natural fit. The grandparents already have experience raising children, and they already know and love their grandchild. But that does not necessarily mean they are the right choice in all situations.
Age and health must factor into the equation
The important thing to consider is the parents’ age and their relative health. Assigning them as a guardian may work at a younger age, but they may have to take on that role for up to 18 years.
For example, if your parents were 20 when they had you, and you were 20 when you had your own child, your parents may still be in their 40s. They could be relatively young and healthy, so they would make good guardians.
But if your parents are in their 60s when your own child is born, it is no longer such a natural fit. You would be asking them to raise your child until they were in their late 70s, when age-related health conditions may become much more noticeable and detrimental.
Choosing a guardian
This does not mean you cannot choose your own parents, but simply that you need to think carefully about who you select. It may also be wise to select a backup so that there is another guardian who can step in if necessary. Be sure you know what legal steps to take to establish a guardianship as part of your estate plan.
