A guardianship designation form is a legal document that specifically designates who will assume guardianship of minor children in the event of the parents' death or incapacitation. It's a more straightforward and focused document compared to a will, as its primary purpose is to ensure the welfare and care of minors. A will is a legal document that outlines how a person's assets and estate will be distributed after their death. While a will commonly includes provisions for guardianship of minor children, it encompasses broader instructions regarding the distribution of property, the appointment of executors, and other matters related to the deceased individual's estate.
With Trustie, it's possible to designate a guardian without necessarily going through the entire process of creating a will, providing a simpler and more accessible alternative, which many states now permit.
In summary, while both a guardianship designation form and a will involve decisions about who will care for minor children in the event of the parents' absence, they differ in scope and complexity. A guardianship designation form focuses solely on guardianship matters, whereas a will encompasses broader estate planning considerations.