REAL LIFE
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REASONS YOU NEED A WILL If you have kids, you need a will. You may have heard that it is especially important to write a will if you have children. Here’s why: If you die without a will, a court will use state law to make many or most decisions about what happens to your property and about who will take care of your kids. Making a will is your opportunity to make a plan that protects your children and the property that you leave to them.
A WILL GIVES YOU A SAY ABOUT WHO WILL CARE FOR YOUR CHILDREN. If you die and your children do not have another capable parent to take care of them, a court will appoint a personal guardian to raise them. In figuring out who to name for this job, the court will focus on the best interests of the children, and it will usually ask for opinions of people who know the kids. Because you’re dead in this scenario, you
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won’t be able to weigh in, but you can use your will to be clear who you think should be named—and you can even provide your reasoning. Your opinion will be especially important if there are differing opinions within your family about who your kids’ guardians should be. Times will be difficult enough with you gone; a family feud would only make things worse for your kids. Your documented preference will make it easier for the court to make a decision and for your family to accept it.
A WILL ALLOWS YOU TO NAME A GUARDIAN FOR YOUR CHILDREN’S FINANCES. If you die, you will also need someone to look after your children’s finances. You can name the same person that you named to be the children’s personal guardian, or you can choose someone different. However, unlike your choice for personal guardian, the court will usually just accept your choice for property guardian unless the person you name is unavailable or obviously incompetent. Your children’s property guardian will look after any of their property that isn’t already managed in another way. In other words, the property guardian won’t manage property that was left to your children in a trust or custodianship.
