In this article
- 1 1. Designating guardians for minor children in case of your death
- 2 2. Ensuring your children inherit your assets according to your wishes
- 3 3. Creating trusts for the financial support and education of your children
- 4 4. Avoiding disputes over the distribution of assets among family members
- 5 5. Appointing someone you trust to manage assets left to your children
- 6 6. Making your end-of-life wishes clear regarding medical treatment and funeral arrangements for your children.
- 7 Before you leave this page… FAQs!
- 8 Reliable Will Attorney in Washington, DC.
Last Updated on March 9, 2023 by Carlos Lopez
You’re a loving parent who wants to do everything in your power to protect your children.
So, you’ve made the decision to create a will —smart move! But if you have children, there are a few more reasons you should make a will that go beyond simply naming guardians for your kids.
1. Designating guardians for minor children in case of your death
If you have children, one of the most important things you can do is designate guardians for them in case something happens to you.
Without a will, the courts will appoint someone to take care of your children—and you may not agree with their choices.
But with a will in place, you can choose the people who will care for your children if something happens to you. This is a crucial decision, and one that should not be made lightly.
Be sure to discuss your choices with your chosen guardians, and make sure they are comfortable with the responsibility.
2. Ensuring your children inherit your assets according to your wishes
If you have children, the most important reason to make a will is to ensure that your assets are inherited by them according to your wishes, without a will, the law dictates who inherits your estate, and this may not be in accordance with your wishes.
Making a will allows you to appoint a guardian for your children in the event that both you and your spouse die prematurely. It also enables you to specify who should manage your children’s inheritance until they reach adulthood.You should also read:Drug Abuse in Child Custody Cases: How to Protect Your Child’s Best Interests
A will ensures that your children will be taken care of financially even if they are unable to support themselves. This may be especially important if one of your children suffers from a disability.
Making a will is the only way to ensure that your wishes concerning your children are carried out after you die.
3. Creating trusts for the financial support and education of your children
One of the most important reasons to make a will is to ensure that your children are financially and emotionally protected in the event of your death.
This is done by creating trusts that will go into effect upon your death. These trusts can be set up to provide for the financial support of your children, as well as for their education.
This is just one example of the many ways in which a will can protect your children.
It’s important to have a will in place so that you can be sure that your children are taken care of in the event of your death.
4. Avoiding disputes over the distribution of assets among family members
Another important reason for making a will is to clearly set out your wishes regarding the division of your assets amongst family members.
Without a will it is possible that relatives could fight and dispute over the division of your property, leading to long and expensive court proceedings.
A properly written will, however, can avoid all of this additional stress on your family, as well as financial consequences in the form of legal bills.
Including detailed instructions in a will regarding who should receive what allows you to remain in control of how your estate is divided even after you are gone. You can also appoint an executor to ensure that each person receives what you intended them to have.You should also read:How will child support impact my taxes?
Making sure everything is written down in detail can help relieve some of the administrative burden associated with distributing an estate and make sure that no one’s wishes are overlooked or ignored.
5. Appointing someone you trust to manage assets left to your children
When you have children, you may want to appoint someone you trust to manage their inherited assets. This person is known as a “trustee“.
A trustee is responsible for managing the money or property left in a will and ensures that it is invested or spent properly on behalf of the beneficiary,
The role of the trustee can be challenging because of the responsibility involved. You want to choose someone who is reliable, knowledgeable about investments and finances, and has the same values as you do.
As such, many people often pick their spouse or a close family member or friend to ensure that their children’s inheritance is handled responsibly and kept safe for them until they reach the age of majority.
6. Making your end-of-life wishes clear regarding medical treatment and funeral arrangements for your children.
You may also want to make your end-of-life wishes clear regarding medical treatment and funeral arrangements for your children. It’s important to provide written instructions on how those decisions should be made, should you not be able to make them yourself.
A will allows you to specify who would speak on behalf of your children in the event that you pass away, as well as what type of medical treatment they would receive and how they would be cared for.
You can also decide whether they should be buried or cremated, if they will receive any special services, and where their final resting place should be.
Making these decisions in writing allows you to ensure that your wishes will be followed in the unfortunate event that you are no longer there.
It also helps avoid potential arguments or disagreements between family members about what should happen to your children after your death.You should also read:My Ex & I can’t agree on our kids’ extracurriculars. What are my options?
Before you leave this page… FAQs!
Do I need a lawyer to make a will for my children?
While you can create a will without a lawyer, it’s best to consult with one to ensure that your will is legally valid.
Can I change my will if circumstances change?
Yes, you can update your will if your circumstances change. It’s important to review your will regularly to ensure that it still reflects your wishes.
What happens if I die without a will?
If you die without a will, your assets will be distributed according to the laws of intestacy. This may not reflect your wishes and could cause family disputes.
Reliable Will Attorney in Washington, DC.
If you’re a parent in Washington DC, don’t wait any longer to create a will and protect your children’s future. Your children’s future is too important to leave to chance. Contact Us now!