Godparents?

Excuse me for my ignorance, but my husband and I want to make another couple, our very good friends, the godparents of our baby. So if anything were to happen they'd have custody. Is there an actual process we have to go through to make them godparents? Or to assign them custody if something were to happen to my husband and I? Don't know if this matters but, Both sides of grandparents are living but we don't like either of their parenting styles, they can't afford to take in kids and we don't want a feud between our families about who gets baby. 🙄