Kathleen A. Hunt Trusts and Estates Law Blog on Lawyers.com

In one popular horror movie, a babysitter gets a phone call
- okay, lots of phone calls  - asking if she’s checked the children. Of course,
she hasn’t: that’s the audience’s cue that scary stuff is about to happen. 

The funny thing is, the question is our cue in real life,
too. Every parent knows that  you have to make sure your kids are taken care of;
the really hard part is remembering that kids may still need someone to take
care of them after both parents are gone. (Remember, both of you could be
together when that speeding bus comes careening  down the street!) If you have a
will, you can name your choice of guardian. If you  don’t, the court will have
to figure it out without the benefit of your knowledge.

Most of us don’t like to think of someone else acting as a
parent to our kids. Many  people don’t want to make the wrong choice, so they
choose nobody at all. Who’s the best person to fill your shoes? The truth is,
nobody can do the job as well as you do;  nobody can truly take your place. And
still . . . someone has to step in. 
Isn’t there  anybody you know that would be a better choice to raise your
kids than the state  foster care system?

A will isn’t just to make sure that your stuff goes to a new
home after your death. A will, naming your choice of guardian, makes sure that
your children have a new home, too. That’s the most important part. As long as
you’ve gotten that far, though, consider naming two people: a guardian of the
person and a guardian of the estate.

The guardian of the person is the one who will take custody
of your children, the one who will give them a home and a refuge and a set of
values. The guardian of the person for your children is their surrogate parent,
their substitute for you.  

The guardian of the estate, however, is only responsible for
keeping track of your children’s inheritance. Where the guardian of the person
might be tempted to take the whole family to Tahiti with
the proceeds of your life insurance policy (after all, your children would have
fun, too!), the guardian of the estate won’t. Instead, the sole duty of this
individual is to take care of your children financially. Although part of your
children’s inheritance will be paid to their guardian of the person, to cover
the cost of raising your children, the guardian of the estate will ensure that
the money you put aside for college is still there when the time comes.

Two guardians? Sounds silly, but it’s a good idea. Zero
guardians? Now there’s a silly idea. After
all, who would check the children?

Questions? Comments? Contact me via email at kathleenhunt@uniquelaw.com or by phone at 510-289-2288.