Hi, today I want to talk to you about guardianship. And in an estate plan, the guardian is the person you’re going to name to take care of children under the age of 18 that are in your care.
So guardianship is that person by which will that person, your little people will live with them or they’ll come to live with your little people. They make sure that they get off to school, do their homework, get to church if you want. Make sure they get to the doctor.
They’re the persons who are in charge of your little person until they get to the age of majority of the age of adulthood in your particular state. This is probably the biggest decision in an estate plan, especially for young parents who have minors at home. And every child is different, right? So what you want to do is really examine who you want to raise your children.
We’ll talk about the money later. That’s different. But this is all about who are they going to live with or who’s going to come in and live with them. As the children are older and in school, I see a lot of clients come in and say, I want this person to move into my house. I want them to keep the children amongst their friends in the neighborhood, amongst their friends in school, amongst their sports activity, tours and teams.
So one of the things you want to do as you name guardian is be aware of the word and it’s a powerful word. So if I had a seven year old and I was going to name my sister Anne and her husband, Brian, and I put Anne and Brian down as guardian of my minor child, then you have to understand that if Anne dies in the accident with me, Brian gets my child, which may have been perfect because Brian is a great husband and he’s going to come along with that package of Anne and Brian.
But if you think, wait a minute, I was really aiming at Anne, happy that she’s bringing a happy married spouse with her, but it was really Anne first I would have liked to have chosen. And if Anne can’t or won’t do the job, then I really would have preferred my brother Michael over Brian. So that’s the power of the word and when it comes to guardian.
So if it’s really Anne first and she happens to come with Brian or whoever she’s living with at the time, that so be it. But you may want to think if it’s Anne can’t do it, then my brother Michael. Now, sometimes I’ve had some clients say, I really want them raised in a home where there’s a married couple. So, and is a very important word there. So think through those parameters. I’ve had clients also be concerned around their ideal guardian is someone who lives outside the country. Naming them as a guardian does not get them through immigration issues. So be aware of that. That if they’re coming from an outside country to take care of your children, that’s an immigration issue, not a guardian issue.
My recommendation to you is that you name the person you most want to raise your children under the worst circumstances. Something’s happened to you. And you name the person that you know will love your children and care for your children like you would have done had you been here. And then let immigration figure itself out and or and remember too, it’s only an 18-year problem if your children are zero. They don’t need a guardian after 18 in almost every single state. So it’s only a short period of time relatively speaking in someone’s life.
So guardian is that person that they live with and are raised by and makes their medical decisions, signs their field trip notices, gets them to church, makes sure they get to school, does their homework. And after 18, the world says they’re, well, this country says they’re an adult. Anyone who’s gotten children over the age of 18, you know very well they still need their mom and dad. So, and that’s a different issue altogether.
But guardian is for those, the care and concern of people under the age of 18, who are they going to live with? Who’s going to get them to school? Who’s going to make sure that they have lunch money in their pocket? Who’s going to sign the permission slip to go on the field trip?
All right, until next time.
Video Summary:
When it comes to estate planning, one of the most emotional and critical decisions parents face is naming a legal guardian for their children. A guardian is the person who would step in to raise your child if you’re no longer able—handling everything from daily routines and education to health and emotional support.
Choosing the right guardian means finding someone who will love and care for your child as you would. It’s not just about shared values, but also location, stability, and willingness to take on the role. Even small details—like naming multiple guardians with the word “and” instead of “or”—can create legal complications or delays.
Guardianship typically ends when a child turns 18, but the impact of your choice lasts a lifetime. Thoughtful planning now provides peace of mind and ensures your children will be cared for by the right person, no matter what the future holds.
This material is intended for general public use. By providing this content, Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Tom is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Florida Veterinary Advisors and The Next Step Planning Group are not an affiliate or subsidiary of PAS or Guardian. California Insurance License #0K80141. AR Insurance License #15823672. Florida Veterinary Advisors is not registered in any state or with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. The individuals associated with Florida Veterinary Advisors do not maintain specialized licenses or qualifications for the financial services provided to veterinary professionals. 7989827.1 Exp 5/27