Estate Planning for Families With Minor Children in Ohio: A Comprehensive Guide

Ohio parents: Learn how to protect your children with proper estate planning. Choose guardians, manage assets, and use trusts to avoid probate and secure their future.Estate planning is an important process for everyone, but it's especially critical for parents with minor children. In these situations, planning goes beyond wills and finances; it involves naming guardians, understanding how property is handled for minors, and using trusts to protect and manage assets. Below, we explore the key elements of estate planning for Ohio families and provide practical guidance to secure your children’s future.

Selecting Guardians for Minor Children

One of the most vital decisions parents face is choosing a guardian. If both parents pass away, this person will be legally responsible for raising the child. If a guardian isn't named in your estate plan, the court will decide, possibly appointing someone who doesn’t align with your parenting style or values.

In Ohio, parents can nominate a guardian in their will, and courts typically honor this choice unless the selected individual is deemed unfit.

The guardian will take care of your child until they turn 18—the age of majority in Ohio. While the physical guardian can manage assets for the child, they don’t have to. You can designate a separate financial trustee for that role. Guardians don’t have to be relatives—trusted family friends are also eligible if they agree to serve.

We often get asked who “should” be the guardian. While that’s a personal decision, we can help you evaluate key considerations to make the right choice.

Logistical Considerations

• Legal Requirements: Include the nomination in your will. Our blog on writing a valid will in Ohio explains how.
  
  
• Proximity: Will the guardian need to relocate the child? Moves can disrupt schooling, routines, and friendships.
  
  
• Financial Stability: The guardian doesn’t need to be wealthy but should provide a stable home and be able to manage funds left for the child.
  
  

Practical Considerations

• Shared Values: Choose someone whose parenting style and beliefs reflect your own.
  
  
• Willingness & Capacity: Always talk to potential guardians before naming them in your plan.
  
  
• Backups: Name an alternate guardian in case your first choice can’t serve.
  
  

Why Minors Cannot Own Property

Under Ohio law, minors (under 18) cannot legally own property outright. This rule exists to protect children from mismanaging assets or being taken advantage of due to lack of experience or maturity.

If a minor inherits property, the law requires that it be held or managed by an adult until the child reaches legal age—or longer, depending on how the assets are structured.

How Property Is Held for Minors

When a minor receives an inheritance, it is usually held in one of these three ways:

1. Guardianship of the Estate: A court-appointed guardian manages the property. However, this process requires court oversight, making it time-consuming and expensive.
   
   
2. Custodial Accounts (UTMA): Assets are managed by a custodian until the child turns 18 or 21. These accounts are simpler but offer limited control.
   
   
3. Trusts: A more flexible, comprehensive solution. Trusts allow parents to dictate exactly how and when the child receives the assets.
   
   

How Trusts Can Help

Trusts are powerful estate planning tools for families with minor children. A trust allows a trustee to manage and distribute assets according to your instructions—ensuring your child’s needs are met without handing over full control at age 18.

You can appoint a family member, trusted friend, or even a professional trustee (like a bank or trust company) to manage the assets.

(Explore this further in our blog: Why Every Parent Should Consider a Trust.)

Key Benefits of Trusts

• Avoiding Probate: Assets in a trust skip the probate process, ensuring a faster and more private transfer.
  
  
• Distribution Control: Set specific guidelines—for example, release funds for education or at certain ages.
  
  
• Asset Protection: Trusts help shield your child’s inheritance from creditors, lawsuits, and poor decision-making.
  
  

(Also check out our related post: What Happens If You Don’t Have an Estate Plan in Ohio?)

Conclusion

Estate planning is an essential step for Ohio families with young children. By selecting the right guardian, understanding how property is held for minors, and utilizing trusts, you can protect your child’s well-being—and your wishes.

Planning now provides peace of mind and ensures your child is supported, no matter what the future holds.

✅ Ready to start your estate plan? Book a consultation today and take the first step in protecting your family’s future.