No posts yet in the legal forum so to kick it off here is a tip. If you die without a will the intestacy laws will apply. Normally the spouse will take the assets of the deceased (if no children of another relationship), but if there is no spouse then the children will take the whole estate between them. A minor child is able to take their interest (in an intestacy situation) immediately (in NSW) due to s128 of the Succession Act http://www.austlii.edu.au/au/legis/nsw/consol_act/sa2006138/s138.html Imagine what a 15 year old could do with $1,000,000. To control things a bit more you could draw up a will and leave the estate to a trustee (of a simple bare trust) until the children reach the age of say 25. (or better yet a testamentary trust with control passing when they reach 25).