Nominating a Guardian and/or Conservator for a Minor
An important part of planning for the future is planning for your children. As part of the Estate Planning process, if you have children or think you may have children in the future, you can provide for their upbringing as well as providing for their financial welfare.
This is done through the appointment of two roles: a Guardian and a Conservator. A single person may fill both of these roles or you can designate separate people.
A Guardian is responsible for the health, safety, and upbringing of the child. It is best to pick someone who would raise your child as you would. A Conservator, on the other hand, is in charge of the financial aspects of raising your child, and making sure that the child’s assets are protected and preserved.
Being a Guardian and a Conservator is a substantial responsibility, and you should have a serious discussion with that Guardian or Conservator prior to naming them in your Will. It is also wise to have an alternate person named in the Will, just in case the person who you had first chosen is unable or unwilling to serve.