One of the biggest fears of any parent is that they die leaving young children. Of course, we all want to leave our children what we can in financial terms, but if they are under 18 then they will also need a guardian to look after them.
It is sometimes assumed, wrongly, that a stepparent or grandparent will assume responsibility, but this is only guaranteed if you have left directions in your Will and you have not remarried since. Otherwise, the State will decide who becomes the legal guardian of your children in the event of your death and this could end up with them going into state care.
Having a valid will allows parents to set out who will be granted guardianship in the event of their death and it can make financial provision both in the short term and long term so that your children are properly looked after and given the best start possible without their parents support.
It is worth knowing that without a Will, siblings might be separated due to circumstances or legal procedure, especially where they have different parents from your former marriages. Furthermore, if you are leaving wealth behind, you might want to make provision for a trust for the benefit of your children rather than leaving them a large inheritance on their 18th birthday!
Making a Will is absolutely critical if you have young children or wealth to leave to children of any age. The more complicated your personal and financial life, the more important such a document becomes.
For more information see our Wills and Estate Planning page or speak to an adviser on 01628 507477.
Download our Free First Time Buyers Guide
Recent posts
Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we will look into the pros and cons of a two-year and five-year to help you make the right decision for you.
Best UK Mortgage Rates this Week
13 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Stamp Duty Rush as Deadline Looms
14 days ago
According to Rightmove, a whopping 500,000 UK homebuyers are rushing to finalise their home purchase before the new Stamp Duty rules change in April.
The UK government is introducing new rules for Energy Performance Certificates (EPCs) that will impact landlords. Here's a summary of the key changes
Should I buy or rent in 2025?
21 days ago
Choosing to buy a house is one of the biggest decisions you are likely to make in your lifetime. There are many factors that influence a house purchase, these include: finances, housing market conditions, and mortgage rates.
ISAs: what are they, and which one is for me
24 days ago
Since being launched back in 1999 Individual Saving Accounts (ISAs) have been very popular for those wanting to put money into savings. There are four types of ISA, and the majority allow flexible saving and the ability to withdraw funds easily. There are financial penalties on certain products, these usually pay the most interest.
Benefits of buying a new build home
28 Feb 2025
According to the Office for National Statistics, last year (ending March 2024), there were 153,800 new homes completed in the UK. To help the housing crisis, the UK government has pledged to build 1.5 million new homes in the next five years.
Check out some of the reasons why a new-build home might be for you.
Many households are still being affected by the high cost of living, with several people worrying about how they can make ends meet on a monthly-basis. Unfortunately, the cost of bills including, water, council tax, and energy are still rising. Here are some things you can do.
More information
Trusted by
