Re: Estate Question
Our children are now grown so I haven't had to think about this for a couple years.
We did not designate a financial institution to manage the investment assets for our children. [I have met several bank trustees. As nice as they are as individuals I would rather empower my teenage nephew after a two week investment course.] Although our attorney recommended that the responsibility for looking after the children and the assets be one in the same we differed - child raising and cash management skills are vastly different. We designated a guardian for the children who was authorized to make decisions about their care, not necessarily care for them.
The person designated to look after the $ was the best money manager. Then we appointed a third person to act as tie-breaker/mediator to settle any disputes between the kids need for resources and the resource manager. Then we re-visited these designations every couple years. Don't overlook successors or a process of selecting successors in your absence.
Thank GOD we didn't need to use these provisions. May you never need to use any of the above.
BTW, make sure you execute health care directives and medical POAs.