The best Christmas gift you can give your baby is a secure future

25th November 2015

Becoming a parent is one of the most exciting times of your life and, with baby’s first Christmas on the horizon, making a Will is going to be the last thing on your mind.

Yet it is probably the most important thing you can do to make sure your baby is provided for and cared for by the people you would choose if anything should happen to you.

“No one likes to think about dying, especially when you’ve just started a family and you’re looking forward to your first Christmas together,” says Joshua Williams, a solicitor with leading south east law firm Furley Page. “But the fact that you are now entirely responsible for another person’s life should make you sit back and consider your own affairs and ensure they are in order.

“If you die without a Will, it’s the law that decides who gets what. But for new parents, making a Will isn’t just about money – it’s also about deciding who should look after your children if you die and making proper financial arrangements for them as they grow up,” adds Joshua, who specialises in drafting Wills.

A Will can help new parents in several ways, to make sure that your growing family is taken care of:

  • You can declare who you would want to take care of your child (or children) in the event that both parents have died. This person is called a guardian and would come with your seal of approval. Without this, the Courts and Social Services would simply have to make the best decision in the circumstances without being able to ask you.
  • You can name your executors, so that the right person is in charge of your estate to manage it properly for the beneficiaries, likely your children. This may mean involving a third party, such as a solicitor or accountant, to take the responsibility away from the grieving family and to help and support them at a difficult time.
  • You can set up a Trust to manage any inheritance that may be due to your children. This is essential to ensure that they are well looked after until they are old enough to manage the money themselves, which may be well beyond 18.
  • You may think you don’t have enough assets to warrant a Will but most people have insurances linked to a mortgage or death benefits payable under a work scheme and this could significantly change the size of your estate. The proper consideration and distribution of those extra funds could be vitally important.
  • You should also consider what would happen in the event of you all passing away.  Although this can be difficult to consider, if you don’t, the possible risk is that it may end up distorting your estate significantly and certain family members, that you have never considered before, may inherit your assets.

Joshua adds: “This is the perfect time to sit down and make a Will, before life becomes too hectic chasing around after a toddler or preparing for any new siblings.

“Not only will it make things so much easier for the people you leave behind, but it will give you complete peace of mind knowing that your children and partner will be taken care of according to your wishes if anything happens to you.”

For further help and advice on preparing a Will, contact Joshua Willams on 01227 274241.

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