I have children. How important is a will?

Many people think that wills are only about passing on your wealth.  This leads to the faulty thinking that if you don't have a lot of money, you don't need a will.  Wills are also for the protection of your children.  

Think about this: Who takes care of your children if you and your spouse are on a date and you get into a car crash?  

Your children experience the trauma of losing parents, but if you don't have a will, they also experience the trauma about uncertainty of where they are going to live in the future.  If you die without a will, a judge will decide who receives guardianship of your children. Courts try their best to make the right decision and to move quickly in circumstances like this, but it doesn't always work.  Will your kids have to live in a temporary situation, only to be moved when they start to feel a sense of normalcy returning to their lives?  Will the court choose a person that is right for your children?  These are questions that you won't know the answer to if you die without a will.

But if you had a will, you could have directed who was to take guardianship of your children.

In a will you can appoint a guardian for your minor children.  You can also set up funding to ensure that your children are also provided for.  

But the need to plan isn't nearly as great as when you DON'T have any money.  If you have children, but not a lot of money (like most new or young parents), it is especially important to plan for your children's future.  The court may chose someone who is not financially stable, or who makes poor financial decisions.  On the other hand, in your will you could appoint a guardian who is financially stable, who has the ability and the time to give your grieving children the attention they need.  

Or you may have a particular friend that is close to your children, or who has a similar age child that you would like to appoint as the guardian.  If you die without a will, there is ZERO chance that the court will appoint this non-related person as your child's guardian.  

What about guardianship in a blended family?  There are more factors to consider.  See How Do I Deal with Guardianship in a Blended Family?

The bottom line is that if you have children, YOU MUST HAVE A WILL.  You can get one quickly, easily, and at a reasonable price from Will By Attorney. Don't leave your children unprotected.  20 minutes of your time is worth the peace of mind you will get when you know that you, and not the government, made the decision about your children's welfare.