Married with Small Children: Writing a Will

When you are writing a will, many different factors are going to come into play. If you have small children, you are going to have to consider some additional elements as well. Here are a few things to think about when you have small children and your writing a will.

Custody

If you were to die unexpectedly while you have small children, your children would have to go into the custody of someone else. When you are writing a will, you need to include a section in the will that covers who is going to have custody of your children if you and your spouse were to die. If you do not include specific information about this in your will and you die, the court system is going to be in charge of what happens to your children.

Inheritance

If you have a sizable estate, there is a chance that you would want to leave a portion of it to your small children. However, in most states, small children will not be able to inherit anything until they reach the age of 18. In some states, they will have to wait until they reach the age of 21. Therefore, you might want to set up a trust agreement as well so that you can designate an inheritance for your children when they reach the proper age.

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