You should nominate a guardian to supervise and care for your child and to manage the child’s assets until he or she is 18 years old. Under California law, a minor child (a child under age 18) would not be legally qualified to care for himself or herself if both parents were to die. Nor is a minor legally qualified to manage his or her own property. Your nomination of a guardian could help avoid a court contest between well-meaning family members and others.
The living trust is another tool to hold assets for the child and administered and distributed for the child’s benefit until the child reaches a certain age..