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It is the estate planning piece that I get hung up on and has delayed me in getting a will.
My wife and I have two young kids. A lot of the will examples I've been shown talk about what happens if we both croak. However, if one of us goes while the kids are underage, I'm assuming all the assets just fall to the other. Is that correct?
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Most husbands and wives do mirrored Wills/EPA/PD. Spouse is each other's executor. Trustworthy family member(s) or friend(s) as alternate. Everything to spouse first, if they predecease, everything to kid(s). If children are underage, guardian to care for them (can be, but isn't necessarily, the same person as the executor). Inheritance held in trust until X age (Again trustee may be, but is not necessarily, the same as the executor).