7. Because you haven’t properly nominated a guardian to care for your children if something happens to you.
One of the toughest issues to think about as a parent of a young child is what happens to him or her if you die prematurely. The big question is “Who will take care of my child if I’m gone?” In Missouri, the proper way to nominate a guardian for your minor children is through your Will. If the parent of a minor child dies without a Will nominating a guardian, a judge will have to decide who should become the guardian of the children. In these unfortunate situations, judges do their best to identify the right person to care for the child. But judges don’t know your family and friends like you do. The judge might select the very person you would have nominated in your Will. But, absent your guidance, he or she might also choose someone else, someone you would not have wanted to be the guardian of your child. Nominating a guardian is listed at #7 in this list but for many parents of minor children, this is the #1 reason they seek estate planning.
