If you have minor children, your will must name a legal guardian, list your assets and debts, and appoint an executor to manage your estate. Without a will naming a guardian, a court decides who raises your children, based on its own judgment rather than your wishes.
Actor Philip Seymour Hoffman left a fifteen-page will when he died in 2014, but he never updated it after his relationship changed and two more children were born. The result was a will that no longer reflected his real wishes for his kids. If you have children, the goal is not just having a will, it is having one that actually says what you mean and stays current. Here is how to get that right. FastWill's will package is built to walk parents through exactly these decisions.
Why an Outdated Will Can Hurt Your Children
Hoffman signed his will shortly after his first child was born, then never revised it, even after two daughters arrived and he separated from their mother less than a year before his death. His accountant urged him to update the document and set up trusts for his children, and he refused. Because the will was never updated, his ex-partner inherited the full estate rather than assets being directed specifically to support each of his three children. The lesson is not just to write a will, it is to revisit it after every major life change.
Step 1: Name a Guardian for Your Children
If both parents are unavailable, a probate court decides who raises your children, and it will generally try to honor the guardian you named as long as that choice serves the child's best interest. Talk to the person you are considering before naming them, and always list a backup in case your first choice cannot serve. If you and your child's other parent disagree about guardianship, put your reasoning in writing and give it to your executor, since the court can consider it even though it is not strictly binding.
Step 2: List Your Assets and Debts
Property jointly owned with a spouse, such as a house or joint bank account, typically passes automatically to the surviving spouse regardless of what the will says. Everything else needs to be listed clearly: real estate, vehicles, retirement accounts, investments, and life insurance. Remember that life insurance and retirement accounts pass through the beneficiary designation on those accounts, not through the will itself, so review those forms separately.
If you are divorced or unmarried, be specific about who receives what. Minor children cannot legally inherit property directly, so anyone you leave assets to should have an adult named to manage that inheritance until they turn 18. Depending on your situation, that manager does not have to be the same person as the children's guardian.
Step 3: Name an Executor
Your executor manages probate, pays debts, and distributes what remains to your beneficiaries. Many parents name their spouse, but consider naming someone else, or a co-executor, since your spouse will already be managing a lot in the aftermath of your death. Hoffman's biggest mistake was naming his estranged ex-partner as executor instead of someone with no personal stake in the outcome.
Consider a Trust for Larger Estates
If you want more control over how and when your children receive their inheritance, such as staggering distributions by age or funding education specifically, a trust used alongside your will can accomplish that in a way a simple will cannot. This is worth discussing if your estate includes significant assets or if you want conditions attached to an inheritance. A last will and testament still governs anything not placed into the trust, so the two documents typically work together rather than replacing one another.
Update Your Will After Every Major Life Change
Review your will after a marriage, divorce, the birth or adoption of a child, or a move to a new state. If your family situation includes children from more than one relationship, be explicit about how each child is provided for, so no one is left out by accident, the way Hoffman's daughters nearly were. Our guides for new parents and writing a will after divorce cover these specific situations in more depth.
A Living Will Matters Here Too
While you are focused on your children's future, it is worth pairing your will with an advance directive, sometimes called a living will, which tells medical providers what care you want if you cannot speak for yourself. Our article on advance directives and living wills explains how the two documents work together.
Frequently Asked Questions
What happens to my children if I die without naming a guardian?
A probate court decides based on what it believes is in the child's best interest, after hearing from surviving relatives. This may not match who you would have chosen.
Can I name different guardians for different children?
Yes, though most parents name one guardian for all their minor children to keep siblings together, with a backup guardian named as well.
Do I need a trust if I already have a will naming a guardian?
Not always. A will alone is often enough for a straightforward estate. A trust becomes useful when you want more control over timing or conditions on an inheritance.
How often should I update my will after having children?
Review it after each child is born or adopted, and after any major change such as marriage, divorce, or a move, since these events directly affect guardianship and asset decisions.
Can my child's other parent be named executor even if we are separated?
Yes, that decision is yours to make. Many parents choose a neutral third party instead, particularly when the relationship with the other parent is strained.
Give Your Kids the Certainty They Deserve
A will that names the right guardian and stays current is one of the clearest ways to protect your children. Start your will with FastWill and make sure your wishes, not a court's assumptions, decide their future.
