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Guardians of the Person and Estate

Posted by John B. Palley on Tuesday, August 23rd, 2011 in Estate Planning, wills
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Just a quickie about the importance of doing your will and always appointing guardians for the person and estate of any minors. I met with a young woman this morning who recently divorced her husband. The thought of her ex being involved is something she wants to avoid. We talked about the guardian of the person and guardian of the estate because they are different. She really can’t stop her ex from being guardian of the person if she dies but she can set up someone else to be guardian of the estate of any money she leaves for her kids.

Please note being guardian of the estate is similar, but totally different, than being trustee for her kid’s money!

Talk to your attorney about getting these things set up right.

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