Why Your Adult Child Needs A Will
As a parent, your number one desire is that your children are cared for after your death. Because of that, you most likely already have a will in place. You probably even have updated your will to make sure it meets your needs and those of your children. With a will in place, you do not have to worry about your children not being taken care of after your death. But, while trying to ensure your children are taken care of after your death, have you ever stopped to think about whether or not your adult child needs a will?
Young adults believe that wills are for the old. However, estate planning is for both young and old adults. Most parents assume that adult children don’t need to engage in estate planning before they have children or spouses. According to a Forbes article, as long as your adult child has assets in their name, they need a will. So, if you have an adult child who has some assets, discuss with them the importance of estate planning and involve an expert if you need to.
According to the same article, most people do not think about their children needing wills because thinking about such a thing requires you to think about your child’s death. If thinking about your own death is difficult, contemplating your child’s death is bound to be more difficult. However, according to the Forbes article, you have to think about whether your adult child needs a will because death is inevitable.
Your adult child needs to know that without a will, the State usually makes decisions on behalf of the deceased. That means that without a will, your adult child’s assets might be divided by the State in a manner that they would not have wished their assets to be divided. Additionally, if your adult child has a child of their own and leaves no will, the State will designate a guardian for their child. Unfortunately, even though judges always act in the best interests of children, a judge can still appoint a guardian who your grandchild doesn’t feel comfortable with.
Can My Adult Child and I Use the Same Law Firm To Handle Our Estate Planning?
You and your adult children have the right to use the same or different law firms to handle your estate planning. Families choose to use either the same or different law firms for various reasons. For instance, for most families, using the same law firm for their estate planning gives them peace of mind. On the other hand, you and your adult child might decide to work with different law firms. For instance, if you feel that the law firm that helped you create your will did not meet your expectations. If that is the case, ensure your new attorney looks through your will to confirm that it aligns with the law and is enforceable.
Contact The Probate Guy for Help
If you need help altering or revoking your will or have an adult child that needs help creating a will, contact qualified California estate planning attorney Robert L. Cohen of the Probate Guy today to receive assistance.