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Frequently Asked Questions
Question: We are young parents with small children. We do not have many assets, why do we need wills?
Answer: No matter how large or small your estate is, every parent of minor children needs a will.
A will not only accomplishes the distribution of one's assets, but also provides for the election of a guardian for your children who are under eighteen years of age. Only you can decide which person is best-suited to care for your children in the event of your untimely death. In the absence of a will, relatives or others will petition the court to have themselves appointed as guardians of your minor children. These individuals might not have been your first choice.
Also, the procedure is time-consuming and costly, and will leave your children in a state of limbo until a final decision is rendered by the governing court. Moreover, without a will, your assets will be distributed to your children upon their eighteenth birthdays. Most parents believe that an eighteen-year-old is too young to be completely responsible for his/her own finances. A will can govern how and when your assets will be distributed to your children.