WHAT IS A GUARDIAN?
The appointment of testamentary
Guardians for children allows you to decide who should be responsible
for your childrens welfare, maintenance and education, and how
these should be funded if both your deaths occur while any child is
under 18 years of age. There is no legal reason why you cannot appoint
the same people as executors, Trustees and Guardians if you wish,
but you should be aware that there is a potential conflict of interest
in that the trustees are responsible for advancing sums of money held
in trust to the Guardians to help with guardianship duties. However,
if you have absolute trust in the people appointed then do not allow
this to concern you.
5. Guardians require the maximum flexibility for living arrangements and the use of funds. All normal requirements can be catered for with a comprehensive selection of Trustee Powers which should be included in professionally drafted Wills. Whatever is informally agreed with the parents at the time of the appointment, Guardians should not commit themselves to specific arrangements which they may not be able to fulfil in the future.
For further details, please contact me at Perfect Wills.
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