Can I name different people to raise my kids and to manage the money I leave them?

Yes, and it's often the smartest approach. The guardian handles daily parenting: housing, schooling, and raising your children. The trustee (or custodian) manages the money you leave for the children's benefit, releasing funds for their care and following the rules you set. Splitting these roles adds a natural check and lets you match each job to the person best suited for it; a warm, loving relative might be the ideal guardian but poor with money, while a financially savvy friend or professional makes a better trustee. If you name the same person for both, no one oversees the spending. Whichever you choose, spell out the arrangement in your will and set up a trust to hold and govern the funds.