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How can I ensure that the guardian named for my children has the resources to raise them well?

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How can I ensure that the guardian named for my children has the resources to raise them well?

Question: How can I ensure that the guardian named for my children has the resources to raise them well?

Answer: You can ensure that the guardian that you name for your children has the resources to raise them well if you do proper planning. I think it’s important to look at the financial needs of your children and to identify whether you have the personal assets to accomplish that. If you do not, you may need life insurance, and that’s why when I do estate planning with clients I always try to evaluate the financial situation before we do the estate documents because if you find that you need to buy a lot of life insurance you may need a trust in order to properly administer and care for your children, the management of the money, and the distribution of the money to your children during their lifetime.


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