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

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Video Transcript

It is a good idea to set up a trust and put your assets into that trust so that your guardian will be able to use those assets for your children’s benefit. Another way to fund that trust might be buying life insurance. That way upon your death, that life insurance can pay to the trust and the guardian can be the trustee of the trust and can handle that money for the benefit of your children. Another added benefit in handling it this way is that it can avoid a guardianship proceeding over that money that is going to your children, which is very restrictive.

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