 TITLE: Why You Should Begin Estate Planning in Your 20s CONTENT: Other Estate Plan Elements You May Need\n---------------------------------------\nIf you have young children, your will should name a guardian and trustee for them. A guardian takes custody of your children and raises them; a trustee manages their money. Often, these are the same person, but they don't have to be. Name a backup guardian and trustee as well.\nIf you have significant assets, such as a house, or if you have a complicated family situation, such as an ex-spouse and children, consider setting up a living trust. The trust is a legal entity that holds your assets, protecting them from creditors after you die and eliminating the need to go through probate. END