Reply to How do you choose backup parents in case your and your DH kick the bucket?

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[quote=Anonymous]DH and I are late 30s, our DS is 3.  I have a full sibling I grew up with and various stepsiblings.  DH is an only child.  Parents are in their late 60s to mid 70s.  f we both die, my sister and BIL are nominated as the guardians.  Our good friends with a son 2 years younger are our backups.

My sister and Dad are co-trustees of the trust FBO my DS, which will be funded with millions of life insurance proceeds and all our assets.   It should be plenty to do everything financially we would want to do for him.  My sister doesn't know that much about finances,  which is why I named my Dad as a co-trustee, but she is getting much better.  I'll probably make her sole trustee in a few years.

Everyone knows the structure. I update a spreadsheet of all assets once per year and put it with the estate documents.

It's hard to think of my DS being raised by other people who will invariably make different parenting choices,  but if the unfortunate occurs, we have done our best to smooth the way for him in a household where he will be raised with love and abundance. [/quote]

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