Recently, many of my friends and family have started getting married and having children, which is great. And most of them have secured a man and woman to act in the traditional role of “godparents” to those children. Although I’d imagine many people are aware of this, it’s nevertheless important to point out the fact that the appointment of a “godparent” is entirely a religious (or if you’re not particularly religious, a traditional) convention. Most parents will seek out a godparent or two who they feel would be a good guardian for that child, should anything happen to the natural parents. But this verbal appointment / acceptance of the role of “godparent” is not legally binding. If you really, truly wish a trusted friend, or close relative, to be the legal guardian of your child if both you and your spouse pass away, you must put that in a Will (or other specific appointment document, but that’s another story).
In addition to appointing a trusted person or couple to look after the physical and/or financial well-being of your children, with a Will you can also set limits on how much of your property your children can access at a given age (a Trust), specify particularly sentimental property to go to one child of many, and/or set certain conditions on a child’s (even adult child’s) receipt of your property.
With all the hustle-and-bustle of being a new parent, it is easy to overlook estate planning (and even easier to ignore the potential of an unimaginable tragedy occurring). But every parent should make a Will if they want to ensure that their children are looked after by trusted friends or relatives.
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