Do I Need To Write a Will If I Have Children?

man carrying two children

Writing a will can benefit anyone and make some things easier for their relatives once they have passed away. It’s especially important to have a will if you have children though. This isn’t just about deciding how your assets are split up. Writing a proper will with the help of a Woodland Hills will attorney from our firm allows you to do so much more.

How Can a Will Benefit My Children?

When you write a will, you don’t just decide what property to pass down to your children. You can make rules about how assets are handled and be specific about what happens to certain belongings of yours that may hold more sentimental value than monetary value. Having a will allows you to:

Choose a guardian for your children and their finances: If your kids are younger, they are going to need a guardian if you pass away. This person can also be their “financial” guardian, but you can also use your will to pick a second person for this important role. They can manage finances and assets for your children until they are old enough to handle that themselves.

Manage property left to your children: If your children are younger, someone else will have to be responsible for managing certain assets, like properties and homes, for them until they reach adulthood. You can use trusts or other arrangements to give an adult relative or friend this responsibility.

Divide up your belongings your way: A will allows you to make specific requests and leave different assets and belongings to your children. Otherwise, they just get a portion of your property and there are not really specific rules about what they will get.

What Happens if I Don’t Create a Will?

When you don’t create a will, the court has to decide where your assets end up. This is called the probate process, and it can take a while and cost your relatives money. Eventually your assets might go to your children, but it could take a while. When you write a will, you avoid this process and make it clear who should be the beneficiaries of your estate.

Do I Need a Lawyer to Write a Will For My Children?

A will can seem like a simple document to create, but you need to make sure that yours is written correctly and that it is legally binding. The easiest way to ensure this is to work with estate planning lawyers who know state laws well.

An attorney can also help you if you have other requests. For example, if one of your children is living with a disability, our lawyers can help you set up a special needs trust. We’re here to help with anything pertaining to your estate, assets, and beneficiaries.

Contact Our Law Firm Today

When you are ready to make your will, contact the Law Offices of Yacoba Ann Feldman and schedule a consultation. Our experienced estate planning lawyers can tell you more about your options and how you can benefit from having a legally binding will of your own.

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