FAQ: Why Young Couples with Children and a Home Should Have a Will

1. We're young and healthy. Do we really need a Will?

·       Yes. While no one likes to think about it, accidents or sudden illness can happen at any age, and young families often underestimate the risks. A Will ensures your wishes are followed and protects your children and spouse if something happens to you.

·       Without a Will, state law decides how your assets are distributed and who cares for your children—and those decisions may not align with what you would have wanted.

2. What happens to our children if we don't have a Will?

·       If both parents pass away without a Will, a court decides who becomes the guardian for your children. The judge follows state laws and may result in someone you wouldn't have chosen raising your kids. This can lead to temporary foster care, or a guardian you wouldn't have chosen.

·       A Will lets you name the guardians you trust most to care for your children according to your values and wishes.

·       In your Will, you can name guardians to raise your children and separate and different trustees to manage financial assets on behalf of your children. This is actually quite common—the person best suited to raising your kids might not be the person best suited to manage an inheritance.

4. Will our wishes be honored without a Will?

·        No—state laws decide everything, and they rarely match personal preferences.

·        In short, for young couples with kids and a home, a Will is one of the most loving, responsible steps you can take—it protects your children's care, secures your family's home and future, and prevents the state from deciding for you.

5. Can't my spouse just handle everything without a Will?

·       Not necessarily. Without a Will, your spouse may need to go through a lengthy probate process and might not have immediate access to accounts or assets.

·       A Will clarifies your intentions and can simplify the process significantly.

Remember: The best Will is the one that actually exists. Even an imperfect Will is better than no Will at all.