Over the last few years many of my friends, colleagues and clients have gradually (and sometimes not so gradually) transitioned into adulthood by way of marriage and the birth of children.
These life changes cause us to realize that with parenthood there are additional responsibilities—not just to care for the kiddos on a day-in and day-out basis but also in the unfortunate event that something were to happen to you or spouse.
Who would take care of your children if something happened to you or your spouse or both you and your spouse? I realize it can be a tricky conversation to have with your spouse. However, it is a necessary conversation. It is also important to memorialize your wishes in writing to give them legal effect.
As most everyone knows, a will is a common estate planning tool used to distribute property after the testator (person making the will) dies. This document can also nominate a personal representative to administer your estate upon death. However, perhaps the most important function of a will for a young couple with children is it allows you to nominate a guardian to care for minor children and a conservator to hold money for minor children (they can but need not be the same person).
Do you need an attorney to draft a will? No, you can draft your own or purchase one at one of the many websites that sell them; however, you generally get what you pay for. The cost to have us draft your will is probably less than you think. Our firm typically charges only a few hundred dollars to draft wills for married couples.
If you and your spouse would like wills that designate a guardian and conservator to care for your children please contact our attorneys today at 507.786.9090.