If something happened to both parents, who would raise your children?
It’s the hardest question in estate planning — and the one most families leave unanswered. Without a plan, a court decides.
The question most parents never get around to
Most parents assume that if the worst happened, the right person would simply step in to raise their children. But the law doesn’t work on assumptions. If there is no guardianship designation in place, the decision about who raises your minor children — and who manages whatever you leave them — can fall to a court.
That means a judge who never met your family, applying state law, choosing among relatives who may disagree. It can be slow, stressful, and divisive, at the worst possible time for the children involved.
Two separate roles: Caring for the child (a guardian) and managing the money left to that child are often handled differently. An attorney can explain how these work in your state — they’re legal designations, not something to leave to chance.
What’s really at stake
Who steps in — and how fast
Without a named guardian, there can be a period of uncertainty while the court sorts out custody. Children need stability most in exactly that moment.
Who controls the money
If you leave assets or life insurance to a minor without the right structure, the funds may be controlled by the court until the child reaches adulthood — then handed over in full, regardless of whether an 18-year-old is ready for it. Attorneys use tools like trusts to manage how and when funds are released.
Children and dependents with special needs
For a child or adult dependent with a disability, an unplanned gap can be especially serious — both for their care and for preserving any benefits they rely on. This is sensitive legal territory where an attorney’s guidance is essential.
Naming a guardian is step one. Funding their job is step two.
An attorney helps you legally designate a guardian. But naming someone to raise your children doesn’t, by itself, give them the resources to do it. Raising a child to adulthood — housing, food, education, healthcare — is expensive, and you’d be asking someone to take that on.
Where I come in
This is the part I help families think through and fund. Life insurance can provide the means for a guardian to care for your children without financial strain — and, structured with your attorney, can be directed so the money is managed responsibly rather than handed to a young adult all at once. For a dependent with special needs, funding can be coordinated with the legal tools your attorney puts in place.
Educational information only — not legal advice. Anil Khanchandani is a licensed insurance producer, not an attorney, and does not draft legal documents. Estate documents are prepared by licensed attorneys; through Anil’s affiliation with HGI, clients can access NetLaw’s attorney-led platform. Please consult a qualified attorney about your situation.
Guardianship FAQ
Make sure the people who’d raise your children are set up to succeed
Let’s talk through how to fund their care — free and no obligation.