In the event that anything happens to both parents with children under the age of 18 it is important to appoint your chosen guardians. Points to consider and discuss include:
- The age and health of your proposed guardians
- The relationship your children have with your proposed guardians
- Do your proposed guardians have children themselves, and would they be willing to raise your children?
- The geographic location of your proposed guardians. In the tragic circumstances of a young child losing both parents would you also wish that child to be pulled away from their school, friends and familiar surroundings?
A clause is built into your Will enabling the trustees to apply income or capital from your estate to go towards your children’s maintenance, education or benefit.
Choosing guardians is a difficult task and it is often a balance.
Fortunately, the cases where young children lose both parents is relatively rare, however protecting against this eventuality is extremely important.