A common mistake people make when writing a Will is leaving all assets to one family member, usually a spouse. While there may be certain tax benefits to giving all of your estate to your spouse, there are greater benefits to making sure all family members, especially children, are going to be well cared for. What will happen in the event that something happens to your spouse? Will there be adequate plans in place, or will the fate of your assets be determined by a court?
A lawyer with expertise in estate planning can help you plan for all the possible outcomes of your family’s future by drafting a valid Will. For example, in addition to distributing your estate, you can also use your Will to appoint guardians for your children and trustee for any trusts you may have established for them.