Guardians

You should consider with whom you would want your minor children to live with in the event of both parents dying before all your children are 18 years old. We call these people your Guardians and you can suggest an appointment in your Will. Ultimately the Courts determine who the Guardian of orphans ought to be but your wishes expressed in your Will would be considered. Whilst the Guardian or Guardians should not be out of pocket for rearing your children (monthly payments to the Guardian or Guardians out of trust funds should cover the children’s expenses) it is not unusual to leave a gift to the Guardian or Guardians for themselves as a thank you (perhaps 5% or 10% of your estate) in the event they act. The remainder of your funds would then be invested for your children.