The arrival of a new baby is an incredibly emotional and exciting time for parents – as Harry and Meghan are no doubt finding out.
But when the dust settles, and life returns to some semblance of normality – sleepless nights and nappy changing aside – it’s time to make sure your child is provided for in the future and that means making a Will.
Why should you make a Will?
As a new parent, making a Will is one of the single most important things you can do for your child – and will bring you peace of mind knowing you have set things in place to ensure your family is provided for if anything happens to you.
If you die without a Will, you don’t get to say who inherits what from your estate. Instead, it’s all decided according to complex intestacy laws which may not be in line with your wishes.
Furthermore, if you are not married or in a civil partnership, your partner is not automatically legally entitled to anything if you die without having made a Will.
Making a Will also enables you to appoint legal guardians for your new baby, choosing the people you would like to step into your shoes should anything happen to you.
It also enables you to make proper financial arrangements for your child as they grow up, including setting up a trust to manage any inheritance due to them and setting an age for them to inherit if you die before they are old enough to manage the money themselves.
Other life changes
Here at Wards Solicitors, we recommend you review your Will at least every three years.
As well as having a baby, there are other major life events which also trigger the need to make a new Will, including:
For help and advice about making or reviewing your Will, please contact Wards Solicitors’ Wills, Probate and Mental Capacity team.