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Reply to "Testimentory trust for minor children - what terms would you put on it?"
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[quote=Anonymous][quote=Anonymous]Are you going to just have the guardians use their own funds to care for the kids until they are a certain age? [/quote] NP We declined to be guardians for family members who thought they were SO clever with all kinds of controls on the money, which would leave us guardians on the hook for fancy things, like, you know…health insurance premiums, therapy costs, increased hosing expenses and food. The backstory is that the husband had his father pass away while he was in college and he got a windfall in life insurance. They couple wanted the same for their kids, should the worst happen. We told them that was fine, but they’d need more insurance to cover necessities in the meantime. We thought their attitude towards the would-be guardians was really appalling. I’m glad we declined and I feel badly for whoever was financially illiterate enough to agree to their you-foot-the-bill terms. [/quote]
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