With a new baby on the scene, making a will is the single most important thing you can do to make sure your child is provided for and cared for by the people you would choose in case you die.
Why should you make a will when you’ve had a baby?
Top tip
By making a will, you can sleep soundly at night knowing that your children and partner will be taken care of according to your wishes if you die.
Well, first of all, no one knows what’s round the corner. And if you die without a will, it’s the law that decides who gets what.
That means members of your family could receive less than you or they expected, and you could leave them with an unnecessary financial mess.
But a will isn’t just about money – it’s also about deciding who should look after your children if you die (appointing a guardian or guardians for them), and making proper financial arrangements for them as they grow up.
Find out more about why you should make a will
If you are unmarried with children
Did you know?
Many people think a ‘common law’ partner (someone they live with as if they are married) has automatic rights to inherit if their partner dies. They don’t. Without a will they might have to go to court.
Fewer people are getting married today than at any time in the last 100 years. But sadly, the law hasn’t caught up with that fact.
The reality is that if you die without a will, your unmarried partner is not automatically legally entitled to anything.
In the worst case, that could mean your partner not being able to stay in the family home or not having enough money to bring up your children.
Make a will or review the one you have to make sure your partner and children gets what you want them to have.
Read about the importance of making a will if you’re not married on the Advicenow website.
Writing a will
There are three main options to choose from when getting your will written:
- Do it yourself
- Use a solicitor
- Use a will-writing service
Follow the link below to find out more about what you’ll pay for each of the options and how to choose what’s right for you.
This article is provided by the Money Advice Service.
