What role does a guardian play in estate planning?

In the context of estate planning, the primary role of a guardian is to care for minor children in the absence of their parents. This designation is crucial because it ensures that a responsible individual is appointed to look after the physical and emotional well-being of the children, providing for their upbringing and daily needs if both parents are no longer able to do so. Guardianship is often established through a will or similar legal documents, where the testator expresses their wishes regarding who they believe would be most suitable for this important responsibility.

While managing a family business or representing the estate in legal matters are also significant roles within estate planning, they pertain to different aspects of estate administration rather than directly addressing the care and custodianship of minor children. Liquidating assets is typically handled by an executor or personal representative, not a guardian. Hence, focusing on the guardian's duty to ensure the care and support of children aligns accurately with the fundamental purpose of such a designation in estate planning.