West Essex Tribune
May 13, 2004
You carefully investigate day care, camps, schools and baby sitters. You make sure your children are well cared for every time you are not there…or have you? If you do not have a Will you haven’t taken an essential step in providing for your children.
For parents of young children, the most important part of a Will is naming guardians--the people who will raise your children if something happens to you. You need to carefully consider parenting style, age, geographic location, religion, and many other factors to decide who is best suited for your children.
The second most important part of your Will is naming trustees to manage your children’s inheritance until they are old enough to manage the money themselves. The people you want to name as trustees are not always the same people you would name as guardians.
If you do not have a Will, the Courts and your surviving relatives will make these decisions. If surviving family members cannot agree, it can lead to costly litigation (usually paid for out of your children’s inheritance).