CHILDREN

Your will can make provision for a Guardian to be appointed in the event of both parents dying. If no will is made or no Guardian is appointed then the Court would make the decision.
Opposing sides of the family may argue about who brings up the children and Grandparents may be considered too elderly by the Court (over 50) even where you may not.

By law children cannot inherit until they reach the age of 18 years when they become legally entitled. However, some people still consider this to be a young age and may prefer to defer the entitlement to say 21 or 25 years. A trust can be created so that the estate is held until an older age on Trust with power to have funds released to benefit the child when needed eg to pay for maintenance or education.