\n\tEven though it may be one of the most important tasks faced by families, a recent study has found that two thirds of Canadian parents have failed to name a guardian for their children.<\/p>\n
\n\tThe study, conducted in mid-November, 2011 and released today by Bank of Montreal’s Harris Private Banking division, also found that about half of parents do not know what sort of financial resources they would leave to a guardian for the additional expenses of raising their children.<\/p>\n
\n\tThe usual way to appoint a guardian is to do so in a will. The failure of 40% of parents with minor children to prepare a will may be one of the major reasons that so many have not appointed a guardian.<\/p>\n
\n\tAnother reason may be procrastination. The process can involve choices that are not always easy and likely require uncomfortable discussions: 80% of parents in the study said they have considered looking to family members to act as guardians but they were split on which family members they would choose.<\/p>\n
\n\tIn addition, almost 30% said that, if they had to appoint a guardian, the decision would probably require more consideration than they had originally thought.<\/p>\n
\n\t“Choosing a guardian is a delicate process that requires a considerable amount of thought and preparation, and is not something that should be done hastily or taken lightly,” says Sara Plant, vice president and national director wealth planning and trust services, BMO Harris Private banking. “As the holidays approach, now is a good time to sit down with family members or friends and have an open and honest conversation about guardianship.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The holiday season is an excellent time to begin discussing guardianship with family and friends<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2318],"tags":[3420],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/298841"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=298841"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/298841\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=298841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=298841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=298841"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=298841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}