You love your children more than anything in the world, and you want a failsafe financial plan for them in case you aren’t around. You need someone who is willing to step into your shoes and take care of your loved ones; they should also be completely trustworthy and dedicated to the children’s wellbeing. So, who do you trust with such a mammoth responsibility? Should you pick one of your family members or friends? What are the qualities that you should look for in a guardian or caregiver?
Amongst other things, estate planning means writing your Last Will and Testament to decide what happens to your assets when you die. Some people take it one step further by naming a guardian for their children in their will as well. You may already know who you want to entrust with your little ones; in which case, an estate plan is only an official formality. But if you don’t know who to pick and what characteristics you should look for, consider our advice!