For many people, the birth of their first child is the first time they take their own mortality seriously. This naturally leads to a series of important estate planning questions: What’s the best way for us, as parents, to pass along any wealth we’ve built? Who could make difficult decisions if we’re suddenly incapacitated? What happens if we die when our children are minors? Who would manage their finances? Who could be their guardian?
This is especially important, because leaving property to a minor child is not as simple as naming the child in a will. Young children cannot manage inherited property for themselves, and even an 18-year-old who is legally an adult may not be ready to receive a large life insurance payment, a share of a house, or a significant investment account all at once.
If you have children and are creating or updating an estate plan in 2026, the following five documents are a great place to start. Our Hillside, IL estate planning lawyer works with young families to help them plan for the future and protect their children’s inheritance.