A will (often called a Last Will and Testament) is a set of instructions that allow you to distribute your assets upon your death. You can also set up guardianship for your minor children. Once the instructions in the will have been carried out, the will ceases to exist.
While there are many factors to explore when chosing a guardian, I advise my clients to consider the following:
As difficult as it may be to think about someone else raising your child, choosing a guardian for your child is an invaluable gift. By selecting a guardian with the same values, morals, religious beliefs, and commitment to education that you have, you will ensure that your child will grow up to be the person you want him or her to be.
Have you ever considered what will happen to your assets -- your house, the contents of your bank account, etc. -- after you’ve passed? Many of my clients say they’d like their assets to be split between their children or to see certain funds go to charitable organizations. The only way to guarantee that your assets are distributed as you desire is to have a will.