Guardians for Your Children

It’s tough enough to name a guardian for your children in your will, but
what if your trust is misplaced? Everyone worries about who will be raising
their children. What if the guardian develops a drug or drinking habit? What if
he fails to care adequately for your children? How can you be sure that the
person you trust now will be the same person you trust when you really need
him?

Most people set up trusts for minor children in their wills. They want to be
sure that if they die, at least they will know that their children will be
financially secure, at least until the point where they can become financially
independent. Name a trustee independent of the guardian, that way you ensure
that the guardian cares for your children for their sake, rather than for the
sake of the money. Consider requiring that the trustee pay for a social worker
to interview the children at the guardian’s home where they live, say every
quarter or half year, to keep tabs on the situation and the well being of your
heirs. This could provide invaluable information to the trustee, and an
independent safeguard for your children.