In the last of the blogs for the time being on Guardians, I am musing over the benefits of appointing a Guardian in a Will for children under eighteen. I recalled a recent conversation with a so-called marketing expert who challenged the wisdom of appointing Guardians and if the best way to do so was through a Will.
Appointing a Guardian through a Will is effective, legally binding and flexible. It is personal and thoughtful to entrust the upbringing of your children with someone you trust explicitly. It is a great responsibility and one that you need to know is right for the child, so why would you not consider your closest friends and relations to look after them? After all, you do not leave your youngest children at home to look after themselves whilst you go away for the weekend!
Most young parents take out a Will to appoint a Guardian and outline the financial arrangements required in such situations, but the children soon reach eighteen years old and no longer need the protection. This creates a new set of circumstances and a new Will is more than likely necessary, but the original exercise has been worthwhile.
Your Will is an insurance policy. You hope you never need it, but you can’t be sure. A good friend of mine recently went on his travels and left his house uninsured. The freezing conditions before Christmas created fourteen bursts in his house and remained undiscovered until it was too late. If he had insured the house he would have been ok, but he now faces the emotional and financial consequences of his action, or to be more precise, in-action! It is the same with a Will. It is better to be with than without.
PS – The marketing expert did not get my business!