If you are raising young kids in Boca Raton, estate planning rarely feels urgent until you realize it is the only way to choose who raises your children and manages their money if you can’t. Here are the questions young parents ask us most.
Who decides who raises my kids if something happens to us?
You should, and a Florida will is how you do it. In your will you can nominate a guardian for your minor children. If both parents are gone and no guardian is named, a Florida court decides who raises your children with far less of your input. For Boca Raton parents, naming a guardian (and a backup) is often the single most important reason to sign a will, which must meet the witnessing rules of Florida Statutes section 732.502.
Can my young children just inherit my money directly?
Not in any practical way. Florida minors cannot manage significant inheritances themselves, and leaving money outright to a child can force a court-supervised guardianship of the property, plus an outright payout at age 18, which few parents want for a teenager. A better approach is a trust, governed by Florida’s trust code (Chapter 736), that holds the funds and lets a trustee pay for housing, education, and health until your child reaches an age you choose.
Do I need a trust, or is a will enough?
Many young Boca Raton families use a will containing a testamentary trust for the children, which keeps things simpler while still controlling how and when kids receive money. Others use a revocable living trust to also avoid probate and provide privacy. The right choice depends on your assets and goals, but the common thread is making sure no child receives a large lump sum before they are ready.
What if I’m incapacitated but not gone?
This is the part young parents overlook. A durable power of attorney under Florida’s power of attorney act (Chapter 709) lets someone you trust manage finances if you are hurt or ill. Florida requires a durable power of attorney to be signed with two witnesses and a notary, and Florida does not recognize “springing” powers that activate only on incapacity, so the document is effective when signed. Pair it with a health care surrogate designation and a living will so someone can make medical decisions for you.
What about our house?
Your Boca Raton home is likely your largest asset and your homestead. Florida’s homestead protection (Article X, section 4) shields it from most creditors but also restricts how you can leave it if you have a spouse or minor child. Young parents should understand these rules before assuming they can freely transfer the home, because the constitution may override the plan.
How often should we update everything?
Revisit your plan after each child is born, after a move, after a major change in finances, and if a named guardian or trustee can no longer serve. A plan that named a guardian who has since moved across the country is a plan in name only.
A note for Boca Raton parents
For young families, estate planning is really child-protection planning: guardians, trusts, and powers of attorney working together. This article is general information, not legal advice. To make sure your guardian nomination and children’s trust are valid under Florida law, consult a licensed Florida estate planning attorney.
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For more on our Florida practice, see our overview of estate planning in Boca Raton. Morgan Legal Group's affiliated New York office also handles .