If you have minor children, your estate plan is about more than money. It's about making sure you get to decide who raises your kids and how your assets are used for their benefit.
For most parents, the hardest part of estate planning isn't thinking about finances — it's thinking about what happens to your children if you're no longer there to raise them. That's an uncomfortable thought, which is exactly why so many parents put this off.
But here's the thing: if you have minor children, having an estate plan isn't just about your money. It's about making sure you get to decide who raises your kids and how your assets are used for their benefit — not a judge who doesn't know your family.
If you have minor children and you only do one thing today, it should be this: name a guardian in your will.
In Florida, if both parents pass away without a will that designates a guardian, a probate court will determine who raises your children. The court will try to act in the children's best interests, but it won't necessarily know your wishes — whether you'd prefer your children be raised by your sister in Tampa or your in-laws in Clearwater, whether you have concerns about certain family members, or what values and environment matter most to you.
Your will gives you the legal authority to express those preferences. It doesn't guarantee the court will honor them, but it carries significant weight.
This is often the most emotionally complex part of estate planning for parents. A few things to consider:
Here's something many parents don't realize: in Florida, minor children cannot legally own significant assets outright. If you leave money or property directly to a child under 18, a court will typically appoint a guardian of the property — a formal, court-supervised role that requires accounting and court approval for major expenses. It's burdensome and expensive.
There are better options.
A testamentary trust is created inside your will and only goes into effect when you pass away. You name a trustee — a trusted adult or institution — to manage the assets on your children's behalf. You get to set the rules: how funds can be used (education, healthcare, living expenses), at what age your children receive outright distributions, and what happens if your child passes away before receiving their full inheritance.
This gives your children real financial protection without handing a teenager a lump sum at 18.
For more comprehensive planning, a revocable living trust can accomplish the same goals as a testamentary trust while also helping your estate avoid probate entirely. Your assets pass to the trust at your death and are administered by your chosen trustee without court involvement — faster, more private, and less costly for your family.
As a parent, your estate plan should also include:
Durable Power of Attorney — Names someone to handle your finances if you become incapacitated, so your spouse or trusted family member isn't left scrambling.
Healthcare Surrogate Designation — Designates someone to make medical decisions for you if you're unable to do so yourself. In Florida, your spouse has this authority automatically in many situations, but it's always better to have it documented clearly.
Living Will — Documents your wishes about life-sustaining treatment if you're in a terminal condition or persistent vegetative state. Taking this decision off your family's shoulders is one of the kindest things you can do.
Estate plans aren't permanent — and they shouldn't be. Major life events like the birth of a new child, a divorce, a move, or the death of a named guardian or trustee should all prompt a review of your documents. A good estate planning attorney will encourage you to revisit your plan every few years or whenever something significant changes.
We understand that thinking about these scenarios is hard. But parents who take the time to create a thoughtful estate plan give their children an extraordinary gift — the security of knowing that someone they love will be there for them, and that the resources to support them will be protected.
At Generations of Trust, attorney Victoria Waller has three children and knows the importance of these questions and works with families throughout Pinellas County to create estate plans that reflect what matters most to them. If you'd like to talk through what your family needs, we're here to help.
Our experienced attorneys can help you with:
Contact us today for a free consultation to discuss your family's estate planning needs.
This blog post is intended for general informational purposes only and does not constitute legal advice. Florida law governs guardianship, trusts, and estate administration and is subject to change. Please consult a qualified Florida estate planning attorney for guidance tailored to your family's situation.
This article provides general information, but every legal situation is unique. Our experienced attorneys can provide guidance tailored to your specific circumstances.
Schedule Your Free ConsultationIf you have minor children, your estate plan is about more than money. It's about making sure you get to decide who raises your kids and how your assets are used for their benefit.
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