Do you need a Trust for your children?
Most parents take certain steps to protect their children in the event of their premature death. Drafting a will or other estate documents, designating a guardian, obtaining life insurance and naming appropriate beneficiary designations on IRAs and 401k plans are all important components of an effective estate plan that serve the purpose of protecting your children. However, most parents should take additional measures to provide guidance on how their financial assets are managed for their children’s benefit.
