Estate Planning – Do it for your children
How Does a Will and Estate Planning Protect Your Young Children?
In Western Australia, Estate Planning and creating a will is not just about planning for your assets; it’s a crucial step in protecting your young children in case the unexpected happens. Having a Will protects your children and can provide peace of mind and security for your family’s future. Here is how it works:
1. Guardianship: One of the most important aspects of a will is the nomination of guardians for your children. Without a will, the court may need to decide who will take care of your children if both parents are no longer able to do so. By naming guardians in your will, you can select individuals who you trust, who share your values and parenting style, protecting your children’s well-being.
2. Financial Security: A will allows you to allocate financial resources for your children’s upbringing. You can establish trusts or designate specific assets to be used for their education, healthcare, and general support. This ensures that your children will have the financial means necessary to thrive, even if you’re not there to provide for them.
3. Avoiding Family Disputes: Without a clear will, family arguments can arise over guardianship of your children and asset distribution. A well-drafted will can prevent such conflicts by outlining your wishes explicitly, leaving no room for ambiguity.
4. Legal Protections: In the absence of a will, your estate may be distributed according to intestacy laws, which may not align with your intentions. A will ensures that your wishes are legally recognized and followed.
Estate planning and organizing your will with Barnard Lawyers is easy and affordable but most importantly, we can help to ensure your will safeguards your children.
This article is for general information only and is
not legal advice. Should you wish to discuss this further please call us now
086114-5920 or email info@barnardlawyers.com.au
not legal advice. Should you wish to discuss this further please call us now
086114-5920 or email info@barnardlawyers.com.au
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