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You Have
a Guardian, Now What?
- Describe
your wishes in your estate plan. A lawyer will ensure your wishes
are recorded accurately.
- Talk to
your financial advisor about how to incorporate savings for
your children into your financial plan, or set up a trust. Registered
education savings plans and in-trust accounts are investment
options that can help you create a solid financial future for
them.
- Nothing
stays the same: Check with the proposed guardian to ensure that
he or she continues to be able and willing to undertake the
responsibility.
- As the
children get older, speak with them to ensure they are content
with your choice of guardian. Remember, a guardian chosen for
young children may not necessarily be the right person for teenagers.
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The
proper legal term for the person who receives custody of
a child after the death of his or her parents is a "custodian".
In a will or any legal document, the word "custodian"
is used to denote the person who has received custody of
the child. However, "guardian" is the term that
is commonly used.
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