I'm in a similar situation and trying to make those same decisions. We ended up picking the ex-wife of a family member. Our immediate family did not fit our criteria and after we talked with her it seems like the best choice.
However, we are still struggling with how to distribute the life insurance in this case. Currently, she would get it all, but I think setting aside x% for education for each kid is worth considering (maybe y% for after college graduation). I realize someone taking in someone else's kids will incur some costs, so I think they should get 'something' - with two more kids, they may need to upgrade their house.
However, we are still struggling with how to distribute the life insurance in this case. Currently, she would get it all, but I think setting aside x% for education for each kid is worth considering (maybe y% for after college graduation). I realize someone taking in someone else's kids will incur some costs, so I think they should get 'something' - with two more kids, they may need to upgrade their house.
Thoughts on %'s or amounts?