You must decide whether you want your assets distributed equally or unequally among the children. You must decide if these assets are to be distributed to the children outright or held in trust until they attain a certain age. If the assets are indeed held in trust, you must decide if the assets are to be distributed to then outright upon reaching the predetermined age, or to be distributed at the trustee's discretion for purposes such as health, education, starting a home or business, etc. You may decide to hold the assets in trust for your children for their entire lifetimes. This could guarantee them financial security in later life, provide for your children's children, ensure your child's spouse does not receive the assets through divorce or at your child's death, and even avoid the assets being subject to estate or inheritance taxes at a later date.
Many people work hard to leave their estate in order upon their death.
What is most often missed is the possibility that you could become disabled or incapacitated prior to death. Kansas has passed the Uniform Durable Power of Attorney Act to deal with this very issue. You simply authorize someone to act to manage your affairs for your benefit should you become incapacitated. There are specific powers of attorney to handle just your health care decisions on your behalf. Often this specific power is given to a spouse or other close family member.