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Home : Planning Your Finances : Planning for Life Events : Raising a Family : The Need for a Will
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Raising a Family
The Need for a Will
By the time children begin arriving, if you don’t already have a will, then getting one is now a priority. Without a
will, you are taking a number of ill-advised risks. You forgo the privilege of determining how your assets are to be
distributed, as well as the naming of an executor. The intestacy laws of your state will govern the proceedings, and
your estate will be settled by the courts. It’s not the kind of final gesture you want to leave for your family.
A will can be developed with the assistance of appropriate legal counsel. As your family and estate grow, you can
modify your will appropriately or draw up a new one. You may also want to consider the benefits of other asset
management tools like life insurance trusts, charitable trusts and testamentary trusts (established within the
will itself). Talk to a qualified legal or estate planning representative early to get the information and advice
that you need.
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Transamerica and its representatives do not give tax or legal advice. The material provided is for informational purposes only and should not be
construed as tax or legal advice. Clients and other interested parties must rely solely upon their own tax and/or legal advisor regarding their particular situation.
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