3 Vital Things Every Parent Should Add to their Will
A crucial part of being a parent is planning your children’s future. There are tons of things to consider when starting a family. However, you need to get ready for all of them and ensure that you always prioritise your children’s well-being first.
Aside from the bills, daily expenses of the family, and education of your kids, you also need to think about making a last will and testament. Everyone is not aware of what’s going to happen in the future, and as parents, you have to prepare for it and ensure that your children will still be well taken care of if you get involved in a fatal mishap or become critically ill.
So, when creating a last will and testament it should contain the following:
Personal guardianship for your minor children
Perhaps, the most essential part of a parent’s will is the personal guardianship for the children. When you have decided who will be your children’s guardian, then you are guaranteed that someone will take care and love them when you are not around. So, make sure to choose a guardian who shares the same ideals and values like you do and whom you truly trust and know deeply.
Definite distribution of your possessions
As parents, all your assets, including letters, jewelleries, properties, and collectibles, will be transferred to a specific person according to what’s written in your will. With this, you have to specify how to divide your property. However, this does not mean that no one will challenge your will. Any eligible person can challenge a will if he thinks that it is not properly executed or the testator was not in his right mind when he wrote the will. This is why testators should consult professionals to make sure that the will is legally correct.
Financial guardianship for your sons and daughters
In case you have finally chosen the personal guardian for your children, then he or she could also be the same person to take charge of their finances. This person will be responsible for managing the assets and distributing them for your children’s advantage until the time comes that he or she becomes an adult.
Furthermore, by making a will, you are able to protect your children. It does not really matter if you have little or numerous properties to leave, what matters is you are securing their future. Death can never be anticipated and it always comes as a surprise to everyone. Hence, the best way to prepare for it is by making a legal will and testament dedicated for your children and entire family.
As long as you are still alive and you can create a will, do it as soon as possible. It might be hard at first, but you have to push through in writing one, for your children’s welfare is at stake here. Doing it early prevents future legal problems like people challenging a will, improper division of property and so much more.
Simply include the three things mentioned above in your will and things will be secured for your beloved children. Remember that everything will fall into place as long as the will is clear and legally executed.