How to Leave Assets to Minor Children from Austin Estate Planning Lawyer Liz Nielsen

minor children

Most parents want to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles, and good friends sometimes want to leave gifts to beloved young children too. Unfortunately, good intentions and poor planning often have unintended results. Don’t make these common, expensive mistakes. Instead, here’s how to both protect and provide for the children you love.

How to Leave Assets to Adult Children from Austin Estate Planning Lawyer Liz Nielsen

Adult Children

When considering how to leave assets to adult children, the first step is to decide how much each one should receive. Most parents want to treat their children fairly, but this doesn’t necessarily mean they should receive equal shares of your estate. For example, it may be desirable to give more to a child who is a teacher than to one who has a successful business, or to “compensate” a child who has been a primary caregiver.

How Estate Planning Can Help You Dream About Your Future from Austin Estate Planning Lawyer Liz Nielsen

Estate Planning Dream

A dream without a plan is simply a wish. Estate planning is not just about death and taxes — it puts you in the driver’s seat of your financial life, allowing you to set achievable goals. It is a great opportunity to focus on the legacy you want to leave behind for loved ones and your community, help you avoid the expense and delay of probate, as well as help you save on taxes.