A guardianship proceeding is required for minor children to supervise their custody and care until they reach the age of eighteen (18). It is a costly proceeding involving attorney's fees, court filing fees, investigative fees, accounting fees and annual reports to the court. One of the advantages of having an estate plan is that you can avoid a guardianship proceeding for your minor children and avoid the potential cost and emotional trauma that might be involved when different family members petition the court for control of your children and your estate. In your estate plan, you can appoint a guardian for your minor children; the successor trustee of your trust is in control of your assets and is vested with the power to distribute those assets for the care and benefit of your children as you direct. This way, you have left specific directions that dictate who your children will live with and how the assets will be used for their benefit, thus avoiding the court's intervention.

You can also leave directions in your trust that state the age your children will ultimately receive their share of your estate; you can also distribute percentages of your estate to your children at specified ages. Not having an estate plan means that your children would receive their inheritance at age eighteen (18), which is usually too young for most children to make appropriate decisions concerning the management of their financial affairs.