It being May, Mother’s Day is on our minds so what better time to think about what moms (and dads!) of young children need to know about estate planning.  

For most parents, children take up a lot of ‘headspace’, especially when their children are young and dependent on them.  The well-being, safety and happiness of their children is of paramount importance to parents and estate planning is an essential component of making sure that all steps needed to protect their children have been taken.  

Read on for 5 things parents with young children need to know about estate planning. 

1. Naming a Guardian is Non-negotiable    

One of the most critical decisions parents with minor children need to make is naming a guardian who will raise their children if something happens to them before their children are grown. The nomination of a permanent guardian is made in a Will.   It is important to note that naming a guardian in a Will does not grant the named person status as the legal guardian at the death of the parents.  The appointment of a permanent legal guardian must be done by the court which takes time which means there is a gap between the need for a legal guardian and the appointment of a legal guardian.  This gap can be several months.   As such, it is important that parents also complete a Parental Appointment of Temporary Agent.  This is the statutory document in Massachusetts that allows parents to name someone who will have immediate legal authority to take custody of and make decisions for minor children should the parents be unable to care for the child.  For more about appointing temporary and permanent guardians for minor children check out Attorney Leah Kofos’ video and accompanying article.

2. Creating a Will Alone is Not Sufficient  

While a Will is essential for parents of minor children, a Will does not avoid court involvement when minors inherit assets.  In most cases, a court-supervised conservatorship will be required until the child turns 18, at which point they will receive their inheritance outright. Anyone who has ever been 18 years old will most likely be horrified at the idea of someone that age receiving a significant amount of money or assets.  Read on for a better way to leave an inheritance to children.

3. A Trust is (Usually) a Must for Parents of Young Children

Creating and funding a revocable living Trust is a common way to avoid probate thereby allowing surviving family members fast and easy access to funds when the trust makers pass away.  For parents of minor children, a living Trust has the added benefit of ensuring that the inheritance they leave their children is administered for those children by the people they name to do so and outside of probate.  Leaving assets to minor children via a Will, means the probate court will have ongoing oversight of the inheritance so long as the children are under age 18.  The court will require that annual accountings be filed with the court and will appoint a third party to review those accountings.  This means added cost, delays and a public proceeding.   

4. Don’t Forget About Your Beneficiary Designations  

Certain assets—such as life insurance and retirement accounts—pass directly to named beneficiaries, regardless of what your Will or Trust provides.  Naming a minor child as a beneficiary is unadvisable as it will require that a court appointed conservator be appointed for the child in order to receive the asset.  The probate court will maintain ongoing jurisdiction over the asset until the child turns 18 years old at which point the account will be distributed to the child.  For parents who create a Trust, designating the Trust as the beneficiary of these assets is usually the best course of action.  If qualified retirement accounts (IRAs, 401Ks) are going to be distributed in trust it is critical that the Trust be properly drafted to administer these assets to ensure that the best tax outcome is available. 

5. The Planning Doesn’t Stop When Children Reach the Age of Majority. 

Your Estate Plan is always a work in progress, and as your children grow up and change, so too should your Estate Plan. When your children are very young, the named guardians in your Will and Parental Appointment of Temporary Agent are extremely important. These people will shape your children’s lives should something happen to you. As your children grow up and you get to know their personalities, you will get a better understanding of what age, if ever, your children should have access to their inheritance. When your children become adults and become more responsible, you may want to name them as Fiduciaries or Agents in your estate plan to take care of you and your assets in case of incapacity or death.

Estate planning for parents is ultimately about creating a framework of care, protection, and financial security. With the right plan in place, you can feel confident that your children will be supported by the people you trust and in the manner you intend.

If you would like to review your estate plan or create a plan, please don’t hesitate to contact our office and make an appointment with one of our attorneys. 

Attorney Sean M. Downing is an attorney with the Dedham firm of Samuel, Sayward & Baler LLC, which focuses on advising its clients in the areas of Trust and estate planning, estate settlement, and elder law matters. This article is not intended to provide legal advice or create or imply an attorney-client relationship. No information contained herein is a substitute for a personal consultation with an attorney. For more information visit ssbllc.com or call 781-461-1020.

May, 2026

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