Nine things to consider when making arrangements for children in your will

If parents die before their children reach the age of 18, another person will need to take responsibility for the children’s care and upbringing. You can appoint this person in your will or in the parental responsibility register. The person who you wish to care for your children needs to accept their appointment as a guardian. That’s why it’s wise to discuss guardianship arrangements with them in advance. If you don’t appoint a guardian, the district court will.

The guardian usually also manages a child’s money until the child is 18. However, you can appoint another person to do this. Unlike the status of guardian, a person can continue to act as an administrator even after the child turns 18. Your will can set out who the administrator is and until when. Parents usually believe their child is mature enough to manage their money by the time they turn 23 or 25, but you are free to choose a higher age for other reasons.

An exclusion clause in your will excludes your estate from becoming part of your child’s and their partner’s community of property. This means only your child is entitled to your estate, which may be beneficial if their marriage or registered partnership ends.

If you want to keep assets in the family even after your child dies, you can add a fideicommissum to your will. This means that your assets may pass on to your grandchildren, for example. As this has consequences for inheritance tax and your accounting, it’s wise to discuss this decision in detail with your notary.

You can choose to disinherit a child in your will, which means they are no longer your beneficiary. However, the child will be entitled to a minimum amount of your estate under the law, known as the ‘legitieme portie’. This is half the portion of your estate to which your child would be entitled if there were no will. To access this minimum amount, your disinherited child must make a claim to it.

Former partners usually don’t inherit from each other anymore. If you’ve divorced or terminated your registered partnership, it can be wise to have another look at your will. For instance, you may want to make different arrangements for administration to prevent your former partner from managing your children’s money. You could also consider a ‘fideicommissum’: this prevents your former partner from inheriting your estate if your child dies after inheriting from you.

In a situation in which a whole family dies, how an estate is divided could be determined by random factors. You can include arrangements in your will that cover this type of scenario. Consider whether you want your estate divided equally between both families, between charities and friends, or another division.

Having a will is crucial if you have children, so please consider these nine aspects and discuss them with your notary. If you already have a will in place, take a moment to think whether it covers all eventualities. Scheduling regular consultations with your adviser can help to keep your will up to date and in line with your wishes and life situation.