What is the role of a guardian in the context of trusts and estates?

The role of a guardian, particularly in the context of trusts and estates, primarily involves the care and protection of minor children or dependents. When a parent or legal guardian passes away or becomes unable to care for their children, a guardian is often appointed through the estate planning process to ensure that those children are cared for appropriately. This appointment is crucial for the welfare of the minors, as it designates someone who can make decisions about their upbringing, education, and general well-being. Guardianship is particularly important when the deceased has children, as it provides necessary support and stability during a challenging transition.

In contrast, other roles mentioned, such as overseeing financial affairs or managing trust assets, typically fall to executors, trustees, or individuals with specific financial responsibilities rather than guardians. The functions of mediating disputes or managing financial assets are also distinct from the guardian's role, reinforcing that guardianship primarily focuses on the physical and emotional well-being of minor dependents.