Why Young Families Need a Will
By Taylor Kenck
It’s fair to say that the average estate planning client is right around retirement age. And this makes a lot of sense: when folks reach retirement age, many have built up significant assets and have begun thinking about their “golden years.” These things naturally lead to estate planning decisions. Additionally, estate planning can cost a lot of money, and this demographic likely has more savings or income to invest in their estate planning.
However, there is one massive reason why estate planning is crucial for young parents: their children.
If something happens to the parents or guardians of minor children, proper estate planning ensures that the right person will be appointed as a guardian. That’s why the most important provisions found in a young couple’s will is often the testamentary nomination of a guardian for their minor children.
Wills are the preferred method for naming guardians for your minor children in the event that something happens to you.
This conversation can be very difficult for young couples; no one wants to plan for this scenario. If this testamentary nomination provision is triggered, that means that both natural parents have either passed or become incapacitated. However, this difficult discussion is necessary because a testamentary nomination will be the first thing that a court looks to when appointing a guardian for a minor child.
Under Washington State Law, a court must give highest priority to the parents’ testamentary nominations. Specifically, the Revised Code of Washington states, “The court shall appoint a person nominated as guardian by a parent of the minor in a probated will or other record unless the court finds the appointment is contrary to the best interest of the minor.” See RCW 11.130.215(2)(a). This means that–barring exceptional circumstances–the person you nominate in your will is the person the court will appoint as your child’s guardian.
Crestview Law can help parents or guardians of young children make these important desires clear through a number of estate planning documents. For most clients, a will makes the most sense. However, maybe a will is not the best option for some families—for example those unable to afford a traditional will. In those cases, Crestview Law can help prepare powers of attorney or other legal documents to clearly state your wishes as they relate to the guardianship of your minor children.
Contact Crestview Law today to learn more or to schedule a free initial consultation.
Crestview Law has physical offices in Wenatchee, but we can serve clients throughout the state with our many virtual tools.
