For many parents, leaving behind your orphaned child would be the worst nightmare. It is a scary thought to entertain – to have a kid grow up without her parents’ love. However, what would be worst is if there were no proper/suitable guardians to care for her needs and ensure her future.
And tragedies leaving behind orphans do happen. It could be a road accident, or a holiday trip that went wrong. Or it could be illnesses that whisk lives away, one after another. Whichever it is, we would want to ensure that the impact of such a nightmare is reduced to a minimal. And that is why we need to entertain the thought? “What would happen to my orphaned child?”
- Will he/she be well taken care of and loved?
- Will my elderly parents still be suitable guardians for my kid, if age catches up with them? As their physical and health deteriorate? Are they able to keep up with times and help my child tackle the needs and stress of current times? Are they able to manage all aspects of guardianship – from social, educational to financial decisions?
- Or would my siblings be the ones who can take care of my child? If so, are they in the ideal situation to do so? Would there be potential conflicts? Would caregiving become a burden to them?
- If it is a court appointed guardian, then would he/she love my child? Will he be able to make the most appropriate decisions? Will they know my intentions for them and will they be able to use the resources I leave behind to the best of my child’s interest?
These are tough questions and also the reasons why identifying and appointing a suitable guardian (and trustee) is difficult. There are just too many factors to consider. However, if you find it tough to identify and appoint a guardian now while you are alive, then you can just imagine how chaotic and stressful it would be upon your passing without a guardian appointment.
Drafting a will and appointing a guardian is important, not just for the worst case scenario of a child becoming orphaned. Appointing someone you can trust to be the joint-guardian with the surviving parent can be extremely supportive.
According to the Guardianship of Infants Act, the surviving parent will gain the right to guardianship of the child. This is a given. However, it could be good to have someone as the joint guardian to the surviving parent. This is because couples often take on different roles in the household. For example, you could be the one handling the educational and financial aspect of bringing up the child while your spouse takes care of the social aspect. Having the right joint-guardian (and trustee) can then alleviate the stress of guardianship and ensure that the best decisions are being carried out for the various aspects.
Most importantly, you can also have the comfort and confidence that your child will always be well taken care, even when situation changes (such as remarriage or change of work/life commitments). That is, as an assurance that the surviving parent continues to be a fit guardian.
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At the end of the day, the court does not know you or your child. They will, as it deems fit, appoint any person who applies to the court to be the guardian. The only way to let your wishes be known and carried out, is if you tell them via a legally-binding document – your Will.
Similarly, your families and friends will never know your exact intentions unless you tell them. And even then, they may not remember.
Hence, it is important to identify and speak to your ideal guardian today to establish a common understanding. Then, draw up your will to establish that intention to help them remember.
This action today, would mean the world in the future.
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For a further understanding and advice on drafting your will, you can drop me a note at yvonnelim@fa.com.sg. Alternatively, you can also request for an invitation to our Will & Trust Seminar to find out more.
CFP, representing Financial Alliance 