Legal Question in Wills and Trusts in Florida
Wills and an only child
Is there any reason to have a will if we only have one child?
Asked on 5/13/08, 3:44 pm
2 Answers from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
Re: Wills and an only child
The two main reasons are to appoint the person(s) you wish to be guardian if you and your spouse die, and to leave a younger child's assets into a trust arrangement so (s)he does not get everything at 18. Additionally, you would want to state who you want to get everything in the event all three of you were to die.
Answered on 5/20/08, 12:30 pm
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
Re: Wills and an only child
Yes -- lots of them. Too many to list here. Among them are that you may not want your child to receive all of your estate or you may feel it is better to have the money go to him more slowly over time via a trust. You should see a lawyer to discuss these issues.
Answered on 5/14/08, 9:48 am