There are at least a thousand things you would rather do than think about end-of-life issues and estate planning, right? Creating a will can feel far off, uncomfortable or unnecessary – especially when you’re busy raising kids. 

But your kids would disagree. Having a will in place is one of the most important steps you can take to protect them. Whether your kids are toddlers, teenagers or adults, a will helps ensure they’re cared for, financially supported and spared unnecessary stress if something happens to you.

A will lets you choose who will care for your children

A legal guardian is named for minor children in the event of the death of both parents. If neither you nor your children’s other parent have a will that names a legal guardian, the state will choose one for you. And the state does not take into consideration things like family feuds or the parenting styles of your family and friends.

Some parents may put off naming a guardian because they have trouble choosing the right person. Although it can be difficult to know who the best person is for the role, this is not a reason to put it off altogether. You need to make a decision so that your children will be provided for in the event that something happens to you. Consider the following when choosing a guardian:

• Is this person willing to raise my children?
• Is this person of legal adult age in your state, which is usually 18 years old?
• Do my children know, respect and love this person?
• Is this person responsible and mature enough to raise my children?
• Is this person healthy and physically capable of taking care of my children?
• Does this person share my beliefs and values?
• Does this person have living space for my children?
• Does this person live near my children’s other family and friends?

You may also want to name a back-up guardian in the will in case the first one is no longer available. Keep in mind that you can name more than one guardian (for example, if you would like your sister and her husband to have custody of your children, they may be co-guardians). You can also name different guardians for each of your children; although most people prefer to keep the children together.

A will helps manage your children’s inheritance and finances 

Minors cannot legally own property or assets (including money exceeding a few thousand dollars, depending on state laws). If you have minor children, then, you will want to name a “guardian of the estate.” This person manages all assets that make up your estate, providing for the children using money from their inheritance and protecting their financial interests until they are 18.

If you would like additional control of the terms under which your minor children receive assets, you may want to consider creating a testamentary trust. This is a trust set up within your will that dictates how some or all of your estate’s assets will be distributed. You choose a trustee to manage the funds until a specific time, when the assets will pass to a beneficiary or beneficiaries (your children). Note that, with a testamentary trust, the assets do not automatically pass to beneficiaries when they turn 18. You can stipulate specific terms for when they receive the money, such as a different age (e.g., 21) or an event (e.g., when they graduate from college).

A will can prevent family conflicts after you’re gone

The death of a parent is an emotional time for children of any age. Tensions can run high, and even the most loving of adult siblings have been known to fight about a parent’s wishes. Plan to alleviate the stress and guesswork for them by creating a detailed estate plan. List out clearly who gets what assets, from the big ones (property, stocks) to the small (your teapot collection, books).

Those with more involved estates or more complicated family situations may want to consider creating a revocable living trust. This kind of trust can be changed or revoked at any time during your lifetime. It details who will manage the trust assets, the terms for distributing and managing the assets, and who receives the assets. One major benefit of a revocable living trust is that, unlike a will, it does not have to go through probate, the legal process required to prove that your will is authentic before assets can be distributed. Depending on state laws, probate can take anywhere from a few months to more than a year and is a public process, which can be painful if there are any issues between family members.

Why having a will matters when you have kids

For parents, a will does more than distribute assets. It allows you to name guardians, manage how your children inherit money and reduce the risk of family conflict during an already emotional time. Without a will, those decisions may be left to the state – not the people who know your family best. 

Creating a will is one of the most meaningful ways parents can protect their children’s future. As your family grows and changes,  make sure you keep your estate plans updated. Reviewing your will after a major life event, like the birth of a child, helps ensure your wishes are clear and your loved ones are cared for. 

Working with an attorney can help you make informed decisions and create an estate plan that reflects your family’s needs. H2: Frequently asked questions

Do parents really need a will if they don’t have many assets?

Yes. Even if you don’t have significant assets, a will is critical for parents because it allows you to name a legal guardian for your children. Without a will, that decision may be left to the court.

What happens to my children if I die without a will?

If you die without a will, state law determines who will care for your children and how any assets are distributed. This process may not reflect your wishes or your family’s unique circumstances.

Can I name a guardian for my children in my will?

Yes. A will is the primary legal document used to name a guardian for minor children. You can also name a backup guardian in case your first choice is unable or unwilling to serve.

What is the difference between a guardian and a trustee?

A guardian is responsible for caring for your children, while a trustee manages the assets you leave behind for them. These roles can be filled by the same person or by different people, depending on your preferences.

At what age do children receive their inheritance?

In most states, children legally gain control of inherited assets at age 18. However, a will or trust can specify different terms, such as distributing assets at a later age or over time.

Do I need a trust if I already have a will?

It depends on your goals and situation. A will covers guardianship and basic asset distribution, while certain trusts can provide additional control, privacy or flexibility for managing assets over time.

Can I update my will as my family changes?

Absolutely. You should review and update your will after major life events such as the birth of a child, marriage, divorce or changes in financial circumstances.

Do I need an attorney to create a will?

It depends on your situation. While some people start with self‑service tools like DIY Docs®, available for ARAG members through the member portal, others prefer to work with an attorney.