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Elementary School-Aged Kids
Reply to "Who did you name as your children’s guardian in case you die? "
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[quote=Anonymous]Guardian of person and guardian of estate are two different things. When you die even if you find a proper person to take care of your children, they might not be the best person to take care of your estate for your children. I'd set up a trust and direct my attorney to sell all real estate and put all cash and savings into it after you die. The trust may be managed by a bank and to be invested in index fund. Every month or every 3 months the trust would give some cash to the guardian of your children for their living expense. The trust has to file tax etc so it's not for an amateur like your relatives. Lady Diana's trust give her sons their share of inheritance only after they turn 30. You can't expect a 18 year old to take charge of $100K and spend responsibily. Just somethign to think about. [/quote]
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