One of the most crucial points a lawyer will discuss with a client is the question of custody of minor children in the event that both parents die. Unless a precise statement is made in a will about guardianship of the children, their custody is left to the courts of the state in which they live to decide.
Other issues that need to be addressed include whether or not a spouse is sufficiently equipped to manage a large sum of money or other investment assets. If the surviving spouse is not equipped to manage the estate assets, then perhaps a lawyer will suggest a trust fund arrangement, under which the surviving spouse receives the income from the trust property as needed. The same issue needs to be addressed with respect to the children. Should they receive money outright at a certain age, or should it be held in trust for them? The answer depends upon the kind of individuals your clients feel their children are.
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