If you have children, one of the most important parts of your estate plan is your Will, with which you nominate a guardian to care for your kids in the event both you and your spouse pass away. Many parents make a Will naming a guardian while their kids are babies or toddlers, and never reevaluate their choice. This is not a good move.
Think about how many things change in a family’s life between the time a child is born and the time that child reaches the teen years. The child has developed their own unique personality, preferences, relationships, and activities. The person originally named as guardian might have moved away, your families may have grown apart, or they may simply no longer be in a position to serve as guardian.
This is why every few years, or when your family experiences a major life event like a marriage, a divorce, a new baby, or even a move, you need to reevaluate your estate plan – including your choice of guardian – to make sure it’s still the best plan for your family.
What if you review your plan and discover that changes need to be made? You’ll want to make an appointment with a qualified estate planning attorney who can help you fully evaluate your current needs and bring your estate plan up to date.