Protect Your Children With Your Last Will and Testament
- A Personal Guardian for Your Children: This is, perhaps, the most important part of a parent’s will. The guardian will take over the day to day aspects of parenting and become the person with legal responsibility for your child. Most parents choose a guardian whom they are close with and who shares their ideals.
- A Financial Guardian for Your Children: This may be the same person as the personal guardian but it doesn’t have to be the same person. A financial guardian will be responsible for overseeing the assets and distributing them for the benefit of your child until your child becomes an adult.
- A Clear Distribution of Your Assets: If you have specific assets such as jewelry, collectibles, letters or vacation properties that you want to leave to a specific child or another individual then you can do so in your will. If an asset is not individually identified as going to a specific recipient then it will be included with all of your assets and distributed according to the parameters that you have created.
The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.
Additional Estate Planning Articles
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- Naming a Guardian for Your Children
- Power of Attorney, Durable Power of Attorney & Health Care Directives: What Is the Difference?
- The Uniform Transfers to Minors Act: An Overview
- Naming Children as Life Insurance Beneficiaries
- What rights do I have in planning a funeral?
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- When Is the Right Time to Start Your Estate Plan?
- What Is Estate Planning?
- What are Some Typical Estate Planning Documents?
- Is There Any Way To Avoid Probate?