How can I plan for the future care of my minor children?

In Massachusetts, there are several ways to plan for the future care of minor children. Estate planning is the process of anticipating and arranging how a person’s assets will be managed and distributed after they die. The first step towards planning for the future care of minor children is to create a will. A will is a written document that specifies how a person’s assets should be distributed after they have passed away. It is important to include provisions related to the care of minor children in the will, such as who should act as the guardian of the children and how the property should be distributed. Another important estate planning tool is a trust. A trust is a legal arrangement in which a person (called the trustor) transfers assets to a trust (controlled by the trustee) and designates how that trust should be managed and distributed. In a trust, the trustee can be directed to manage the assets for the benefit of minor children. Finally, it is important to designate a guardian for your minor children. A guardian is a person who is legally responsible for the care of minor children and can make decisions on their behalf. A guardian should be chosen carefully, as they will have significant influence over the care of the children. Overall, estate planning can be an effective way to ensure the future care of minor children. By creating a will, setting up a trust, and designating a guardian, you can ensure that your children will be taken care of in the event of your death.

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How can I plan for the future care of my minor children?

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