DEAR JEFF: My husband and I have never had wills, and we are starting to have them prepared. We have young children, so my main concern is their future if something were to happen to both my husband and myself. I know that our wills have to name a guardian and a trustee. Should these be different people, or can one person serve both of these functions? Thanks, “Not Sure”
Dear “Not Sure”: It is certainly acceptable (and quite common) for one person to serve in both capacities. It really is a matter of personal preference. For example, some people feel that the trustee (who manages the money for your minor children) and the guardian (who is responsible for the day-to-day care of your children) should be the same in order to provide continuity, while other people feel just as strongly that those should be different people.