Every parent wants what’s best for their kids. But have you thought about what might happen to them when you’re gone?

Less than a third of US adults have a will appointing a guardian or documenting how they want their children to be looked after if something happens to them — and you don’t want to become a part of that statistic.

By failing to appoint a legal guardian for your children or setting up financial resources for their care, your family can get caught up in time-consuming legal proceedings, which can stretch on and create distress for the people who matter most in your life.

As a result, it’s essential to plan ahead. However, figuring out who to name as a potential guardian for your kids — and taking the legal steps to make it happen — can be a little bit tricky.

That’s why we sat down for a Q&A session with Kalim Khan, senior partner and founder of Toronto-based firm Affinity Law. 

With over 20 years’ worth of experience in estate planning, Khan’s law firm helps guide families through complex legal decisions and supports them in establishing legal frameworks to protect their children’s futures.

Read on to get Khan’s pro tips on why it’s important to plan ahead, the legal steps parents must take to appoint a guardian for their children, and the financial tools parents can use to safeguard their children’s financial future.

Why Is it Important to Plan Ahead When it Comes to Guardianship?

Answer: Unexpected events can happen at any stage of life. Having a plan in place ensures that if something happens, the children’s care will be handled by someone the parents trust, avoiding unnecessary stress and uncertainty.

Without a legal plan, the courts decide guardianship, potentially placing children with someone the parents wouldn’t have chosen. This process can be lengthy, leaving children in temporary foster care or with unfamiliar relatives.

What Is Legal Guardianship, and How Does it Work?

Answer: Legal guardianship is a court-recognized arrangement granting someone the right to care for a child if the parents are unable to do so. It typically involves legal documentation such as a will and ensures the guardian can make decisions regarding the child’s welfare.

If no one is named as a guardian, courts consider factors like the child's best interests, existing relationships, and financial stability. However, without parental input, the court’s choice may not reflect what the parents would have preferred.

What Steps Should You Take to Name a Legal Guardian?

Answer: Select someone who shares your values, has a strong relationship with your child, and is capable of providing long-term care. Consider their age, health, and willingness to take on the responsibility.

Reflect on the person’s parenting style, moral values, financial stability, and proximity to your child’s current environment. Assess how their lifestyle aligns with your vision for your child’s upbringing.

In terms of legal steps, guardianship is formalized by naming the guardian in your will. You should also review and update powers of attorney, trusts, and any related legal documents with your attorney.

What’s the Difference Between Temporary and Permanent Guardianship?

Answer: Temporary guardianship is limited in duration and usually applies during crises, while permanent guardianship continues until the child reaches adulthood or the court deems otherwise.

If no guardian is named, children may be placed in temporary foster care or with extended family. This interim period can be stressful and unpredictable without a short-term guardianship plan.

Short-term guardianship grants someone temporary authority to care for children, preventing them from entering foster care during emergencies until long-term guardianship is activated.

What Documents Do Parents Need to Appoint a Guardian?

Answer: A will specifies guardianship and asset distribution, trusts manage assets for minors, and powers of attorney allow for decisions if parents become incapacitated. These instruments work together to protect children’s well-being.

Advance directives provide instructions for medical care and designate someone to make decisions, ensuring that children’s needs are met without legal delays.

It is also important to include emergency contacts and care instructions in your planning. Emergency contacts provide immediate care while legal proceedings unfold. Detailed care instructions minimize disruption to the child’s routine and comfort.

What Should You Do to Prepare Your Guardians?

Answer: Ensure they understand the responsibility, agree to it, and are prepared to handle the emotional, financial, and practical aspects of guardianship.

Create a comprehensive guide detailing daily routines, medical conditions, educational plans, and personal preferences to help the guardian provide consistent care.

It is also important to create a financial plan to support the guardian in caring for your child. Establish trusts, life insurance, or dedicated savings accounts to ensure financial burdens don’t deter the guardians from providing care.

What Happens If You and Your Spouse Pass Away Together?

Answer: If you and your spouse pass away together, the court will appoint a guardian based on the child’s best interests. Without a pre-designated guardian, this process can cause delays and family disputes.

It is also worth naming alternate guardians. Alternate guardians provide a backup plan if the primary guardian is unwilling or unable to serve, ensuring continuity in your child’s care.

What Role Do Life Insurance and Trusts Play in Securing Your Child’s Future?

Answer: Life insurance can cover living expenses, educational costs, and healthcare, offering financial stability for guardians and children.

Trusts protect assets and ensure they are distributed according to your wishes, with a trustee overseeing the funds until the child reaches adulthood.

How Should You Talk to Your Kids About Your Plans?

Answer: Frame the conversation positively by explaining it’s a way to ensure they’re always taken care of by someone who loves them. Use simple, reassuring language.

Including older children gives them a sense of involvement and reassurance that they have a voice in the process.

How Should You Update and Maintain Your Plans?

Answer: Review documents every three to five years or after major life changes like divorce, remarriage, or the birth of another child.

Keeping all parties informed ensures a smooth transition if needed and prevents misunderstandings or objections down the road.

What Are Some Common Fears and Misconceptions Around Naming a Guardian?

Answer: To overcome the fear of offending family members when naming guardians, explain that your decision is based on practical factors and not personal feelings. Emphasize your focus on the child’s best interests.

There are also myths about the guardianship process. For example, many assume that relatives will automatically gain custody. But without legal documentation, the court makes the final decision.

How Should Parents Prepare for Emergencies Beyond Guardianship?

Answer: Make sure to outline immediate steps, and include contact information for short- and long-term guardians.

It is also important to detail the child’s medical, educational, and emotional needs and ensure children have access to critical information if something happens.

Using Trustworthy to Organize Your Guardianship Plans

As Affinity Law’s Kamil Khan has already pointed out, well-laid plans for guardianship require a high volume of documentation.

Your arrangements might include a will, advance directive, a financial trust, medical documentation, a power of attorney, care plan, and just about anything in between. That’s a lot to keep track of, and it’s a lot to share with relevant parties — which is where it pays to partner with a digital organization solution like Trustworthy.

With Trustworthy’s innovative Family Operating System®, you can upload and create digital versions of all your estate planning essentials to guarantee your children are always in safe hands. 

Everything you upload to your Trustworthy vault is protected by bank-level security, including robust password recipes, two-factor authentication, hardware keys, and AES 256-bit encryption.

Onboarding your documents is simple, thanks to Trustworthy’s AI-powered Autopilot tool. 

Every time you upload a new document, Autopilot suggests file names, tells you which folder to place it in, and can even generate automated document summaries so you aren’t stuck sifting through the entire document to figure out what it’s all about.

From there, sharing individual documents or folders and collaborating with trusted professionals is easy. You can grant granular access to family members, your guardian (or alternate guardians), your attorney, or anyone else to ensure everyone is on the same page.

This can go a long way to minimize disagreements in the future and streamline any legal proceedings if anything happens to you in the future.

So, what are you waiting for? Start organizing your plans by joining Trustworthy today.