Estate Provisions For Children

An important consideration in estate planning involves provisions for children. There are many factors to consider such as bequests, guardianship, trusts and executors. If you have more than one child, it is common to leave funds or property in equal shares though it is not necessary. You can leave unequal shares. Consult with an experienced attorney for your estate planning needs. Children may have different interests and needs. A child who has received a professional education for example may require less support than a disabled child. Children who appreciate antiques may be most suited to inherit an antique collection.

It can happen as well that someone may wish to disinherit a child. If this is the case, then you should expressly disinherit the child in a will by name. You may also need to provide for guardianship for minor children. You should change your will when your family composition changes: marriage, divorce or the addition of new children or grandchildren. You could modify it by codicil or you could have an entirely new will drafted.

You should think about whether you would like to set up a trust or custodian account for children and who you might choose to be the trustee or custodian. If you would like a trust or custodian account, then you should choose at what age you would like any remaining funds distributed. Many elder couples  may choose an adult child to be the executor or executrix of their will. You should consult with a child before this appointment and discuss your estate wishes with them. Consult with an experienced estate planning attorney for your estate planning needs.