What is the name of your state? Tennessee
We are a married couple with 2 young children and limited assets. If we both die, we are appointing my mom, who lives in Germany, as our children's personal guardian. Would this pose any problems in terms of getting the provisions of our will carried out? We also plan to name my mom as property guardian and trustee or custodian. Executor will be my father-in-law, who lives in our state.
On a related note, what is the best way to leave life insurance proceeds to the kids if we should both die? Should we create a trust with my mom as trustee or leave them to the kids under the Uniform Transfer to Minors Act with my mom as custodian? Which would be less complicated for her to manage from Germany?
We are a married couple with 2 young children and limited assets. If we both die, we are appointing my mom, who lives in Germany, as our children's personal guardian. Would this pose any problems in terms of getting the provisions of our will carried out? We also plan to name my mom as property guardian and trustee or custodian. Executor will be my father-in-law, who lives in our state.
On a related note, what is the best way to leave life insurance proceeds to the kids if we should both die? Should we create a trust with my mom as trustee or leave them to the kids under the Uniform Transfer to Minors Act with my mom as custodian? Which would be less complicated for her to manage from Germany?
