Choosing a Guardian for Your Minor Children
Step 4 – Ensure All Fiduciaries work together for the benefit of your child
One of the most critical, but often overlooked factors in Choosing a Guardian, is to make sure the people in charge of your Child (Guardian) and their Trustees or other Fiduciaries are able to work together seamlessly for the benefit of your children.
If you have chosen different people to serve as the Guardian of the Person and Guardian of the Estate of your child, this is critical.
It is equally critical if you have chosen a corporate or professional Trustee to manage the financial affairs of the child’s Trust.
The person who raises your children must have easy access to the money that you have provided for your child’s welfare and upbringing. There can be no conflicting agendas that slow down or hinder this process.
If there is a family conflict that would make this difficult, you may need to re-think who will serve as Guardian and Trustee. Choosing different family members (or different sides of the family) to serve in these roles can be a recipe for disaster if not done properly.
Sometimes it is wise to use a professional trustee, such as a bank trust department, to handle the finances, especially if the Guardian would be overwhelmed with managing the financial aspects of the Child’s estate.
If you would like ideas on how to ensure that your Child’s Guardian and Trustee work together seamlessly, we invite you to consult with a Guardianship Attorney at Ainer & Fraker. We have helped hundreds of families choose the right Guardian for their children.
We know we can help your family as well.