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Sep 16, 2021 · Having a last will and testament is crucial for parents to have because minor children are completely reliant on the parents emotionally and financially. Since minor children cannot manage finances, courts appoint someone to be their guardian to supervise their financial needs and care.
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You want to designate who will have the responsibility for the minor children if the other parent is unable to serve as the natural guardian. Note: If you expect the value of your estate to exceed federal estate tax exemption amount, this document is best used as a reference tool.
Since minor children are under the age of 18, by law they cannot make decisions about things like legal contacts and documents, nor can they make legal decisions relating to material or non-material property (real estate, bank accounts, other assets, debts, and inheritance matters.)
Jun 7, 2023 · Fact-Checked. You may have heard that it is especially important to write a will if you have children. Here's why: If you die without a will, a court will use state law to make many or most decisions about what happens to your property and about who will take care of your kids.
Jun 27, 2019 · This article gives an overview of why a Will is critical, what you can do within a Will, specifically if you have children, and how you can prepare a Will in a cost effective and convenient way. We also discuss why and how you can update a Will if circumstances change.
Mar 16, 2024 · A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children after your death. If you die without a will, those wishes...
