Why Should I Make a Will if I Have Children?

Unfortunately, you must accept that there will come a day when you will no longer be around your children. However, you do not have to accept a reality where you can no longer financially support your children. That is, you may still uphold your duty as a financial provider of your children if you execute a Last Will and Testament properly. Follow along to find out why you should make a will if you have children and how a proficient Butler County will preparation attorney at Heritage Elder Law & Estate Planning, LLC can work to ensure your children are well taken care of.

What are the reasons for making a will if I have children?

By definition, a Last Will and Testament is an estate planning document that allows you (i.e., the testator) to name who gets to manage your estate (i.e., the executor) and distribute its assets to your loved ones (i.e., the beneficiaries) when the time comes. In short, this tool allows your children to inherit the assets you left behind when you, sadly, passed on. If this is not reason enough for you to make a will, below are other motivations:

• You may be able to control who gets guardianship over your children if they are still of a minor age upon your unfortunate passing.
• You may be able to control who gets guardianship over your children’s finances if they are not yet of a mature age upon your unfortunate passing.
• You may be able to control who gets management rights over your children’s property until they reach a mature enough age to manage it.
• You may be able to control exactly which of your assets will be divvied amongst which of your children at the time of your unfortunate passing.
• You may be able to control exactly who gets to divvy up your assets amongst your children at the time of your unfortunate passing.

Should I still make a will even if I do not have children?

There is no explicit rule that states you must name your children as the designated beneficiaries of your Last Will and Testament. That is, under Pennsylvania estate law, you may appoint your spouse, extended family member, close friend, pet, or otherwise any loved one whom you believe will be financially impacted by your unfortunate passing. This is all in an effort to say that you should still make a will, along with making other estate plans, even if you do not have children of your own.

In conclusion, you should not proceed with any will preparations without the strong legal representation of one of the talented Butler County estate planning & probate attorneys. So contact our firm, Heritage Elder Law & Estate Planning, LLC, today.