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
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
Ever wondered where the most reasonably-priced towns for families to buy are? Property company, Zoopla has identified the top 10 towns for families to live in the UK by looking at the most affordable towns, and how many people are looking in that area.
Increase in zero-deposit mortgages in 2024
15 days ago
There was a 32% increase last year in 100% loan-to-value (LTV) mortgages which are mortgages that require zero deposit. According to a recent report by chartered accountants and business advisers, Lubbock Fine, the reason behind this is buyers simply struggling to save enough for a deposit.
Average savings by age in the UK
16 days ago
Many people are quite private when it comes to what is in their bank account. In this short blog, we look into what Brits have saved by age group.
Research from buy-to-let lender, Landbay, shows that UK landlords are looking at raising rents ahead of the Renters' Rights Bill which is due to come into force this year.
Data shows landlords could miss out on green mortgages due to expired energy performance certificates.
Buying a house is a big deal, and where you are planning to buy will make a difference financially. In this short blog, we look at the most affordable and most expensive areas and how much you need to be earning to buy in there.
Pros and Cons of Equity Release
20 May 2025
Equity release is a type of mortgage that allows homeowners 55 and over to access money from their property's equity without having to leave their home. This is done by securing a loan against the house which is usually repaid by selling the property when the borrower passes away or has to move into long-term care.
More information
Trusted by
