What are the downfalls to waiting until children are fully grown to execute an Estate Plan?

The clear downfall will occur if you and your spouse pass away or become incapacitated unexpectedly. If you don’t plan for the guardianship of your minor children, you essentially are allowing the court the authority to make that decision in your absence. Although the court does look at the best interest of the child when choosing a guardian, this decision really should be made by the minor’s parents.