I am in the process of drafting a will for my estate and would like to designate friends of mine as potential guardians for my children in the event of my death.
The concern I have is that my friends have a child whom has special needs and is likely to require expensive special needs. As my estate would benefit from a substantial payout from life insurance in the event of my death, I don't want that additional money to become a burden for the future guardians.
To clarify the situation, they have difficulty affording health insurance regularly and their son has significant heart issues. Their son is 2 years old and has had 2 open heart surgeries thus far. They are able to have certain bills forgiven via charity care and other avenues which consider their assets in making a determination.
If I indicate in my will that the estate is to be placed into either a trust or pot trust and designate the potential guardians as the trustees, would that create a sufficient divide between the guardians' assets and my children's for the purposes of determining financial status when a hospital or other entity attempts to determine applicability for charity care or other debt forgiveness?