Who raises them, who holds the money, and at what age they receive it.
Two separate decisions get conflated here. Guardianship is about who raises your children. Trusteeship is about who manages what you leave them. They are frequently the same person and there is no rule that they must be.
The other decision is timing. Money that arrives in a single sum at eighteen is a different gift from money that arrives in stages, or that is held for a purpose. Both are ordinary choices and neither is a comment on your children.
What this involves
- Nomination of guardian in the will
- A trust for a minor beneficiary
- Staged distributions and their ages
- Naming who holds the money and who raises the child
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Also in estate planning
- Revocable living trusts
- Wills, powers of attorney and directives
- Funding the trust
- Blended families and second marriages
Who does this work
