FAQ Friday: Naming trustees as guardians

On Friday, October 21st, Mr. Berger answers the question, "should you name the same person as guardian as trustee?"

In 2011 Mr. Berger wrote a blog about naming guardians and trustees. Today’s vide focuses on whether those people should be the same.

About 80% of our clients pick the same people to manage the funds as well as care for their children. The other 20% may have situations where they know person A is great with their kids and will care for them well, but maybe isn’t the greatest with money, but person B could then be in that situation.

The key component to having two different people is that they get along well and are willing to work together.

Trustees would potentially be serving much longer as a guardian is only needed until the children are 18, whereas trustees often serve until the youngest turns 25.

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