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How could a single parent not get a Will done? The issue of Guardianship
is paramount. Should that be left to chance or should the single parent
make his or her wishes clear? Further, the single parent should, in
addition to naming a Guardian (whom the children will live with), name a
Trustee to manage the assets and money left to the children. The written
Will can also set forth the goals and terms for how the Trustee will
manage the trust for the children.
Even a small estate, if properly managed, can make a positive
difference in the life of a child who has lost a parent.
For instance, an estate of $10,000 would certainly be considered a
small estate. Spent or invested wisely, it could be a good start at many
things.
However, without structure and direction, it is easy for any size
estate to be unnecessarily wasted or even to have a negative effect upon
the child.
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