Making a Will whilst expecting or adopting is most likely the last item on your list to check off.
However, if you are a parent to be or already have children, then it is an important time as ever to have a Will prepared to ensure your children are protected and looked after. You can even include the current children you have and any future unborn children within your Will.
If you do decide to make a Will, most importantly the first to consider is the appointment of named legal guardians who would look after your child or children if in the event both yourself and your partner (if applicable) were to pass away.
If your children are set to inherit under the age of 18 or your specified age of inheritance, then their inheritance will be held on trust until they attain the set age. It is therefore also important to consider those individuals you would wish to appoint as your Executors and Trustees who would look after this Trust and hold the funds until your child or children become of age.
Your Executors and Trustees would however be able to administer funds to the appointed guardians to cover costs of your child or children’s everyday needs. This would all need to be discussed at great length at your initial appointment with us due to the recent introduction of the Trust Registration Service with Gov.uk, if in the event minors are set to inherit under your Will.
Please remember, as your life circumstances change, it is always important to review and amend your Will to ensure your loved ones are always provided for.
If you would like to discuss making a Will, please contact our Private Client Team at Colchester who are available for appointments on 01206 577676 or alternatively email us at: [email protected]