Reply to selecting a legal guardian for kids, grandparents not the best choice

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[quote=Anonymous][quote=Anonymous][b]Current financial status of potential guardian should have nothing to do with the decision.  This is literally why life insurance exists.  Term life insurance is super cheap.  My BIL and SIL will get more than $1M plus fully funded 529s for our kids's college education.  If your husband's sister is responsible and would be a good guardian for your kids, then her "lack of means" should have zero to do with that decision (unless you think she is irresponsible and would squander the money somehow - but that's a separate issue from current financial situation).[/b]

I think you should get the will and guardian all lined up and just give the grandparents a heads-up.  Don't make a big deal about it. My dad (who is very financially astute) was the executor of our will for a long time, but we recently changed it to my brother.  I just explained it was time to move all responsibilities in our will to people in our generation.  He was totally understanding of that.

We picked my husband's brother and his wife to be our kids' guardian.  They are great and we feel 100% comfortable with that.  We are not their kids' guardian - she has a sister who lives nearby so it wouldn't entail uprooting their kids if something happened to them.  But my husband and I are the named guardians for my cousin's kids - her immediate family are all a bit nutty so she wanted someone a bit more stable.  So I think extended family (or even friends) can be good options depending on all the dynamics.

Good luck.[/quote]

+1[/quote]

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