So, writing a will with young children is a task most parents tend to procrastinate. Who likes pondering about their own mortality, right? But when you’ve got little ones depending on you, it’s a conversation you can’t sweep under the rug. It’s almost like drafting a game plan for life’s unexpected curveballs.
First things first, let’s chat about the legwork behind this. Picking a guardian can feel like you’re playing favorites at a family reunion. You want someone who shares your values and can shoulder the responsibility. It’s not just about who’ll give the best birthday presents but who’ll provide the stability your kids need.
Money. Yep, we’re going there. Making provisions for your children’s future is like securing a parachute before the jump. You don’t want to leave it to chance. Setting up a trust in your will could be a sensible move. This isn’t just for the Zuckerbergs of the world. Regular folks can benefit, too. A trust can dole out funds for college, extracurricular activities, or even their first car.
Ever thought about who gets the final say in financial matters if something happens to you? Assigning an executor is sort of like picking a boss for your estate. This should be someone you trust implicitly. Think, a straight-and-narrow friend or family member who won’t buckle under pressure.
The conversation doesn’t end here. Talk it out with your chosen guardians and executors. Clear communication can bridge misunderstandings and spell out expectations. There’s nothing more comforting than knowing everyone’s on the same page.
Let’s address the elephant in the room – how often do you update this will? Life’s unpredictable. As your family grows or changes, revisit your will to make updates. For instance, any new additions to the family need to be included, and if circumstances shift, make necessary adjustments.
