Estate Planning for Minors: Should Your Child’s Guardian and Trustee Be the Same Person?

Wednesday, January 15, 2025


If you have overheard any estate planning for minors discussions, you have likely heard the words “guardian” or “trustee.” In estate planning, deciding who will ultimately be tasked with caring for your minor child or managing funds for their benefit is an important decision that requires consideration of many factors. Pavone Law Group specializes in helping families navigate these choices with confidence.

Who Makes a Good Guardian?

When choosing a guardian, the top consideration is who will love and raise your child like you would. Keep in mind the potential guardian’s religious beliefs, parenting style, interest in extracurricular activities, energy level, and whether they have children. You may want to consider where the individual lives and whether they have the capacity to provide daily love, care, and support for your child. These are crucial aspects of estate planning for minors that should not be overlooked.

Who Makes a Good Successor Trustee?

While the guardian you choose may be great at caring for your children, they may not be great at managing money. For this reason, it may make sense to place the financial management of your child’s funds in someone else’s hands. The person responsible for managing your child’s inheritance is the successor trustee. Not surprisingly, when choosing a trustee, the most important characteristic is that they manage finances well. However, they often do not need specialized knowledge or training. This individual can seek assistance from financial professionals should the need arise.

Effective estate planning for minors often involves selecting a trustee who can align with your long-term goals and ensure your child’s financial needs are met.

Should They Be Different People or the Same?

Whether you select the same person to act as guardian for your minor child and successor trustee for your child’s inheritance will likely be based on the ability and capacity of the specific person. Some people may have the skills required to manage both roles effectively, which simplifies certain aspects of the process because the guardian will not have to go to someone else to request distributions to care for your minor child.

On the other hand, not every person can do both jobs. With two different people serving in these roles, you can ensure that you have the right person for each job if one person is not ideal for both. Also, some individuals choose to designate a guardian from one spouse’s family and a trustee from the other spouse’s family to establish a system of checks and balances. This approach ensures that both sides of the child’s family are equally involved and each individual remains accountable. With proper estate planning for minors, these decisions can be defined and tailored to your family’s needs.

Seek Help to Make Your Decision

The estate planning process can be intimidating, but it does not have to be. Contact Pavone Law Group to guide you through estate planning for minors. We can explain all of your options and help you determine the best plan that will follow your wishes while meeting your family’s needs.


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