Legal Question in Wills and Trusts in New Hampshire

Re: Fiduciary/life insurance for minors

The point of a guardianship is to make sure that money is available for the needs of the wards (e.g., the minor children). This is why guardians are asked to account for their actions in annual accountings. There are a variety of things which are appropriate expenses for a guardian, and the circumstances are important in determining whether expenses are properly incurred. You should consult with an attorney to address your concerns, and to arrange for a proper account to be prepared. How items are characterized on the account is part of the whole picture, and an attorney can facilitate the process.

Re: Fiduciary/life insurance for minors

I have never seen a judge put anyone in jail on the facts you present. However, taking the money was not a good idea without prior approval of the court. Perhaps you should consider giving a mortgage on the house to protect the childrens' equity position? I do think that you should consider hiring an attorney as this can get quite messy in court.

This is a general response to your question and your particular facts require firther analysis. Do not take my response as the only way to approach this situation.