There is both a guardian of the person and guardian of the estate. The former is actual care and control of your minor children and the other is financial control. Often people choose the same person for the jobs. However, in some cases people separate it out; for example after divorce!
The key is naming guardians in your will so that there won’t be a mess or a fight after your death. The California probate code allows the Judge to make the decision that is in the best interest of the child. However, it will be presumed that you know what’s in their best interest so NAME YOUR GUARDIANS!
What documents should your California living trust package have? A lot of clients think a trust is the only document. However, it’s not. Far from it! There are a number of documents that a properly prepared California revocable “living” trust package should have. Here is a brief summary of each:
California Revocable Living Trust – The main document for sure.
Schedule of Assets – Typically attached to the trust but sometimes a separate document showing what assets are “in” the trust.
Pour Over Will – Yes, you still need a will. It’s very basic.
Nomination of Guardians – If you have minors you need a document to appoint guardians. It can be in in your will or a separate document.