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If you’re a parent with young children, having a Will is essential.

Nobody likes to think about death, but planning for the worst becomes even more important once we have little ones that depend on us.

Some may think that having a Will is unnecessary when we are younger and may not have substantial assets. However, a Will can protect your most important asset – your children.

How?

Through guardianship arrangements outlined in your Will.

You may think that if something were to happen to you and your spouse that a family member, sibling, or relative may seamlessly step in to care for your children, but this may not be the case.

If you die without a Will with guardianship arrangements, the court may appoint a guardian.

While the judge attempts to make a decision based on the information available to them and what they feel is in the best interest of the child, it may not have been the decision that you wanted.

The Bottom Line:

If you are a parent with young children, newborn though teens, please, please, please get yourself a Will with guardianship arrangements.

It doesn’t have to be anything big, fancy, or expensive. A simple and inexpensive Will with guardianship is sufficient in most cases.

If you’d like to learn more about how I help millennial families build their path to financial independence, you can schedule a complimentary Discovery Call for us to learn more about each other.

Disclaimer: This post is meant for educational purposes only and is not intended to be personal advice. Please consult with a qualified professional before making any financial decision.