How CPAs Can Help Clients Address the No. 1 Planning Obstacle

December 8, 2014

The number one planning obstacle that couples with young children face is
deciding who will be named the children’s guardian if the parents die.
CPA financial planners can play a role in this crucial decision by
helping clients work through issues such as the financial status of the
prospective guardian, how the guardian will be compensated, and
whether to name a trustee.

Considerations your clients will need to ask include:

  • A potential guardian’s financial status and whether the
    guardian will be able to provide the lifestyle they desire for their
  • Having another person or institution serve alongside the guardian as trustee.
  • Whether to nominate one person or a couple as guardians

Any estate plan designed for the parents of minor children will have to
take technical, financial, legal, and psychological components into
account. A skilled financial planner will combine technical skill with
emotional sensitivity to help his or her clients craft a plan that
brings them all into balance.

Click here to read Patricia’s complete article as it appears in CPA Insider

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