Children need guidance for a long time. If we have children and we die before they're functioning on their own, the law allows us to name a person or two to do that. They are called guardians.
We think we know what will happen next but experts agree this is only sometimes true. So it's important to make plans if something happens to you.
To be honest, for many people, naming a minor's guardian is the impetus for getting their first wills.
If the wish for estate planning is primary, the issue of guardianship can stop people in their tracks. Frankly it can be hugely difficult for parents to locate another person whom will love their child and care for them.
Guardianship v. living trustee: If both parents are deceased, state law will require the appointment of a person to be legally in custody of minors (read 'get off the computer and go to sleep'), the tasks of investing money and using it for the child's benefit can better be handled by a subtrust created within a revocable MA living trust. The trustee does those tasks.
The trustee of a living trust operates under different legal rules than a court appointed guardian. If a guardian is need, remember that the same person can be both the guardian and the trustee.