Taking the time to write a will now is one of the most important things you can do to not only protect your assets but to protect your children.

Losing a parent at any age is difficult, and making sure your child is cared for financially, emotionally, and physically will alleviate anxiety for both you and your spouse. You can prevent undue stress for your child and extended family should an urgent matter happen.

Selecting a Guardian, Trustee, and Executor

The first thing you’ll need to think about is a guardian for your child. For many families, this can be as simple as choosing the baby’s godparents or grandparents. Remember that the person or couple that you pick will be taking on the lifelong commitment of caring for your child. Here are a few questions when choosing a guardian:

• Do you have confidence in the individual(s)?
• Is your choice able to handle the physical requirements of being a guardian/parent?
• Does he/she have the time?
• If he/she has a family, are their kids close to the age of your child?
• Can you provide enough money to raise the child and if not, can your prospective guardian cover the costs?
• After you’ve made the decision, choose an alternate guardian to include in your will. He or she will take care of your child in the event that your primary choice is unable to do the job.

When first beginning a will, you should be on the people chosen as guardian(s) and/or trustee(s), not only in terms of parenting skills, but also managing money. These two roles can be separated.”

Many parents follow this route and select one person to care for their child (a guardian) and another to watch the accounting (a trustee). This is a wise choice for any family. “Thought should be given to writing guidelines for the guardian(s) and/or trustee(s) to follow, so they can make the same kinds of decisions that the parents would make.

After picking a guardian and trustee, you’ll need to name an executor: someone to carry out your will and complete the necessary paperwork after your death. For your estate to transfer successfully, these three people will need to work together. Think about how your choices for guardian, trustee, and executor will interact in your absence. To help things move smoothly, you may consider including a letter with your will specifying how you’d like your child raised and educated, how you want your funeral to be presented, and so on. Remember, a will isn’t just for stating who should get your assets or care for your children. There are many other things a will can be used for, such as making contributions to charity or donating organs, as well as specifying funeral arrangements. You can also choose your preferences for life support by creating a separate form called a living will.

If you have taken into consideration of making a will, you can simply go to www.createawill.com and begin creating your specific state will today.