what is the significance of a godfather? is this a legal designation? What are a godfather's responsibilities


In the Catholic church, a godfather is someone who promised to help his godchild to grow up in faith. In case the godchild becomes an orphan, it is also the responsibility of the godfather to take care of the child. This is the case in an ideal situation. However, you are not legally bound to take care of the godchild.
None really.

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Answers:
If anything should happen to the parents, a Godfather is responsible for making sure the child is raised Catholic. There are no legalities involved.
It's an honor bestowed upon you by the parents. In the event that somethin happens to the parents, you can state your legal opinion on what should happen to the child. Some Godparents see it as their responsibilities to be at the childs school activities, extra-curricular activites, and church programs.
in a reiligious sense the godfather promises to help parents with the religious upbringing of a baby at baptism. It's an honor usually reserved for close relatives or friends.....then there's that movie that put a whole different spin on the title Godfather
My childrens godfather would make sure that if anything were to happen to me and their father, he and/or the godmother would see that my children will be all set, and guide them through life.