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Should you choose your parents as guardians?

On Behalf of | May 14, 2024 | Estate Planning, Probate & Guardianships

Young parents often realize that they need to make an estate plan because their family has suddenly expanded and they don’t know what would happen if they passed away unexpectedly. Who would take care of their child? How will assets get transferred to the next generation? They set up an estate plan to address these issues by creating a trust or choosing a guardian.

It is very common for these parents to believe that their own parents would be the best guardians. These biological grandparents already have a close connection with the grandchild, and the parents trust them to raise that child in their stead. But if you are in this position, is it the best option to choose your own parents?

Age and health

You can pick your parents if you would like, but there are a few things that you have to consider to decide if it’s a good idea. The first is your parents’ health. Are they in good enough physical health to take care of your child? Is there any family medical history that indicates they may not be in as good of health in the future? Has there been evidence of mental decline?

This all ties to the age of your child. If that child is just a year old, for example, a grandparent may feel like a natural fit today. But if that grandparent is 60 years old, they would be 77 years old by the time that the child is 18 and graduating from high school. Will your parents be able to raise the child for that long, or do you need to choose a younger guardian?

There are no right or wrong answers here that apply to every case, but simply factors that must be considered. Take the time to look into your legal options when drafting your estate plan.