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Where there’s a will: Planning ahead for your kids

On Behalf of | Jan 27, 2017 | Estate Planning |

Wills aren’t only necessary for individuals of a “certain age.” While it may seem premature, preparing a will for your children, no matter how young, is a smart thing to do.

Here are a few questions to keep in mind regarding the execution of wills when it comes to your family:

What is a will?

A will is essentially one’s “last words” or “final wishes.” Following a death, the court will enforce any and all of your last wishes dictated in your will.

While a will is most often used by an individual who wishes to dictate what happens to his or her property after death, wills can also serve many other important purposes. One of those purposes is what happens to underage individuals who find themselves lacking a legal guardian.

What would a will look like for your child?

So why is it important to have not only a will for yourself but often separate wills for your family members? Having individual wills for each member of your immediate family can ensure that your children are provided with proper care if something bad should happen or circumstances change and there is no legal guardian.

Most likely a will for your child will be fairly short and far less complicated than one for an adult, given that adult wills are often comprised of property allotment guidelines and most children don’t own any or much property.

A will for your child will probably consist mainly of appointing a guardian in the event that they are deprived of any legal guardians.

Who drafts the will?

While anyone is legally allowed to draft his or her own will, individuals usually hire attorneys to assist in the process of drafting a will for themselves or a family member. Depending on your circumstances, a will can get very long and complicated, so it is often helpful to have an attorney present throughout the drafting and execution process.

If your situation changes, an attorney can also be helpful in the process of will modification. The process of modifying a will is readily available to all individuals but is can be made much simpler with the presence of an attorney.

While the process of drafting a will for your child probably isn’t at the forefront of your mind, it really is worth it in the long run. A will can provide you with a sense of security for your children’s future in the event that something bad happens or you are no longer able to care for them.

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