Young Couples and Parents of Minor Children
If you have a minor child, then you need a will that includes trust and guardianship provisions. A minor child cannot control property in his/her individual capacity. Therefore, a Trustee must be appointed to manage a child’s estate (example: property inherited from a parent). By having a Will with a Trust provision, you decide who serves as Trustee for your child, as well as the terms upon which the Trustee shall serve. Also, by including a Guardianship provision, you decide who will have custody of your child when you pass away. This type of Will enables you to leave behind clear instructions about who you want to care for your child and oversee his/her property. It alleviates protracted court battles for custody of a child and/or management of his/her property.