Ray and Liz need to name someone to manage their children’s finances in the event they were to die before seven-month-old Sam and four-year-old Rose have grown up and are on their own.  They want the guardian of Rose and Sam’s estates to know what is going on later with the Rose, Sam, Aunt Joy, who they named to be the personal guardian, and Joy’s family.

For example, Liz and Ray would want some of the money they leave for Rose and Sam to allow Joy to buy a house that will be comfortable for her expanded family.  So they want the finance guardian to have enough information to propose the new house to Joy and the probate court.

Part of making sure the finance guardian knows enough is choosing someone who has a good relationship with Joy and Rose and Sam.  Ray’s lifetime friend, Ted, lives about an hour away and regularly spends family holidays with Liz, Ray, Rose, Sam, Joy, her family, and others.  And he’s excellent with money.

Naming Ted to serve is a great start, but we also recommend that Liz and Ray write a letter to Ted to be given to him in the event of their unexpected deaths. 

Their letter may tell Ted about their dreams for Rose and Sam and some things about Joy and her family, of course. Ray and Liz can particularly mention their hope that a bigger house be considered, or similar ideas. 

Leaving informal directions and thoughts for your guardians outside the Will document can give them confidence that they are doing what you would want and so make their responsibilities easier to fulfill.  To begin planning, please call our office at (815) 436-1996 to set an appointment.

©2015 Gruber Law Office, Ltd.