Chapter 13: Providing for the Kids
Tips for Every Age of Offspring

Charles and Emily were both hard-working, industrious people, yet devoted plenty of time to their only son, Oliver, who was a top student in his fifth-grade class. Then Charles died in an auto accident, only months after Emily had succumbed to cancer. Charles’s best friend, David, badly wanted to help Oliver; David was a successful graphic designer and he and his wife had plenty of room in their home after their only child left for college. But because his parents hadn’t provided for a guardian in their will, custody of Oliver went to his closest relative, Emily’s sister, Holly. Holly had always been irresponsible, and the succession of boyfriends who passed through her house didn’t provide Oliver with much of a role model. David could do nothing as Oliver’s grades plummeted, and the once-promising student started to struggle.

Most people want their estate plan to take care of their children after they (the parents) are gone. Many different methods are available to accomplish this, but choosing the right one depends upon your particular circumstances – financial, familial, and otherwise. Here are some common strategies; your lawyer can help you decide which one – or which combination – is best for your family.