Depends on what your printer wants to do, obviously; but personally I might design the cutting die as in attached (I prefer the rounded corner effect of a single, continuous cutting rule, rather than those dastardly desktop corner rounders), then finish off the other two sides on the guillotine.
You might want to ask your printer if they're going to die-cut or use a cheap desktop thingamajig...
I'm sure one also gets very good corner rounding machines, not just the horror-story types... I've just never been exposed to one.